Keybot the Quant remains long after the Tuesday selloff. The algo has not printed any numbers thus far this week. Interestingly,. XLF ran higher to the 32.72 line in the sand and failed lower again. The bulls are unable to bring the banks into their camp.
RTH drops to the 164.40 line in the sand but does not fall through. VIX pops to the 19.20 line in the sand but drops lower again. NYA falls towards the 15140 critical line in the sand that will usher in major stock market selling. NYA price is at 15172 only 32 points away. The bears are unable to bring the retail stocks, volatility and NYA index into their camp.
The drama continues as the corrupt politicians try to work out a deal on the US debt. Does the choppy stock market slop continue? Uh-huh as Jade sings.
Bulls win big with XLF 32.72. Bears win big with RTH 164.40, VIX 19.20 and/or NYA 15172.
A failure in NYA ushers in bigtime stock market pain should it occur. If any 1 of the 3 turn bearish and the SPX drops below 4143, Keybot the Quant will likely flip short.
5/28/23;
7:00 PM EST =
5/26/23;
10:00 AM EST =
5/21/23;
7:00 PM EST = -5; signal line is -12
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.