Keybot the Quant remains long but is champing at the bit to go short with the algo number 7 points below the signal line. Utes jog across the UTIL 959.38 giving up the ghost late session. The internal parameters will not fully latch as yet to permit the move to the short side.
If the SPX slips below 4109 trending lower, Keybot the Quant will likely flip short. The SPX starts the day at 4131.
Utilities lay out a new game plan for next week. UTIL 959.38 will remain a bull/bear line in the sand, give or take a few pennies either way since the number is continuously recalculated, and UTIL 953.58 is the other key level for next week nullifying the 967.82 that was in play this week. Thus, UTIL 953.58 is an easier bar for the bulls to remain above.
Watch UTIL 959.38 today and also 953.58 which is in play all of next week. Price begins today at 956.30.
The NYA index is also in play again as identified by the quant so maintain a hairy eyeball on NYA 15162 which is a major bigtime bull/bear line in the sand.
Bears can flip Keybot the Quant short if the SPX drops below 4109. Bears win going forward with UTIL below 956.30 and NYA below 15162 which would cause a big drop lower for stocks.
Bulls can maintain the upward bias in US stocks if they push UTIL above 959.38 pronto and SOX above 3019.
Bulls win big with higher utes and socks. Bears win big with lower utes and NYA index. Today will be interesting. Utilities, semiconductors and the NYA are all that matter right now.
5/14/23;
7:00 PM EST =
5/12/23;
10:00 AM EST =
5/11/23;
1:01 PM EST = -21; signal line is -14 but algorithm remains long
5/11/23;
12:11 PM EST = -5; signal line is -15
5/11/23;
12:05 PM EST = -21; signal line is -17 but algorithm remains long
5/11/23;
11:55 AM EST = -5; signal line is -18
5/11/23;
11:08 AM EST = -21; signal line is -20 but algorithm remains long
5/11/23;
10:52 AM EST = -5; signal line is -21
5/11/23;
9:58 AM EST = -21; signal line is -23
5/10/23; 2:08 PM EST = -5; signal line is -24
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.