STOCK MARKET BULLISH -- LONG -- CAUTION -- TURN MAY BE IMMINENT

Keybot the Quant is long but champing at the bit to flip short with the algo number 10 points below the signal line. The internal parameters will not yet fully latch so the quant remains long. Utilities failed which is a bigtime bad omen going forward for stocks.

The imminent turn notation is in the title line since the bears only need the SPX to gradually and methodically trend lower to below 4113, and Keybot will likely flip short. The S&P 500 starts Monday morning at 4138 so bears need 25 points of negativity.

You saw that the pre-market bank bravado was misplaced. XLF jumped up to the 33.14 bull/bear line in the sand, hit its head, and collapsed. The bank earnings were positive and encouraging so it is a negative tell for the bulls to see that XLF could not achieve 33.14 and higher especially after touching the goal.

Retail Sales disappoint but RTH is still in the bull camp. Bears need RTH below 161.15 to growl strongly.

The utilities, banks, retail stocks and chips are all that matter; everything else is noise. Chips and retail stocks are bullish while banks and utes are bearish. One of these sides is going to flinch. Obviously, bulls need stronger banks and utes. Bears need weaker semiconductors and retail stocks.

The failure in utilities cannot be understated. It is a trap-door that opens for the US stock market. Bulls will need UTIL above 962.90 immediately after Monday's opening bell, otherwise, there will be Hell to pay going forward.

The exact bull/bear levels can be provided after the Sunday number if anyone is interested.

4/16/23; 7:00 PM EST =
4/14/23; 10:00 AM EST = +26; signal line is +36 but algorithm remains long
4/14/23; 9:56 AM EST = +26; signal line is +36 but algorithm remains long
4/14/23; 9:48 AM EST = +42; signal line is +36
4/14/23; 9:36 AM EST = +26; signal line is +35 but algorithm remains long
4/13/23; 9:45 AM EST = +58; signal line is +34