Keybot the Quant remains short. The bears are cruising lower with the algo number 42 points below the signal line. Utilities have failed again placing the broad US stock market back into a major crash profile going forward over the coming weeks.
Bulls need UTIL above 961.65 pronto or stock market conditions will deteriorate.
The quant is tracking NYA 15155 as an important bull/bear line in the sand. Price is at 15229 likely coming down for a test. This action will tell you a lot. If NYA fails at 15155, it is saying that the US stock market is in major trouble and a significant crash is on the come.
If NYA comes down to 15155 and bounces, or bounces from current levels, the bears can be kept at bay for a while longer but only if the bulls then push UTIL back above 961.65. High drama.
4/30/23;
7:00 PM EST EOM =
4/28/23;
10:00 AM EST =
4/26/23;
11:57 AM EST = -21; signal line is +21
4/26/23;
10:56 AM EST = -5; signal line is +24
4/26/23;
9:58 AM EST = -21; signal line is +26
4/25/23;
10:00 AM EST = -5; signal line is +29
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.