Sunday, April 2, 2023

STOCK MARKET BULLISH -- LONG

Keybot the Quant remains long with Q1 in the rearview mirror and the algo number 35 points above the signal line. Shorts are throwing in the towel creating a sharp rally higher.

The bulls need stronger commodities to keep the upside party going. Bulls need GTX above 3371 (now at 3323 almost there). If GTX turns bullish, another leg higher will occur in the stock market.

The bears need 2 of the next 3 parameters to turn bearish if they want to flip the model short. All 3 represent -2% pullbacks from current levels so the bears have work to do. Bears need RTH below 160.25, CPER below 24.45 and/or NYA below 15065. Bears need weak retail stocks, copper and NYA index to stop the stock market rally. The rally will not end until at least one of the 3 turn bearish.

4/9/23; 7:00 PM EST =
4/7/23; 9:00 AM EST =
4/2/23; 7:00 PM EST EOM EOQ1 = +12; signal line is -23
3/31/23; 10:00 AM EST = +12; signal line is -24
3/30/23; 9:36 AM EST = +12; signal line is -26

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