Keybot the Quant remains long as stocks dance on the head of a pin. There are lots of moving parts in the stock market right now with utes, chips and retail stocks the most important.
The utilities are comical once again failing and signaling a crash profile for the US stock market in the weeks ahead. UTIL 967.82 and UTIL 959.35 are key and humorously, price ends the session yesterday at 959.32 only 3 pennies on the bear side so obviously you know what to watch when the opening bell rings in the States.
Since utes are in failure, bulls must push UTIL above 959.35 pronto to prove that they can take stocks higher. If UTIL remains below 959.35 this week, the stock market will sour.
Bears need SOX below 3023 and price is at 3024 another tightrope dance of bulls and bears. Watch the chips at the opening bell.
Bears need RTH below 162.98, call it 163, to create negativity in stocks. If bears can flip both SOX and RTH into their camp, and the SPX drops below 4124 trending lower, Keybot the Quant will likely flip short. If 1 of the 2 turn bearish, the caution flag will be out. If both turn bearish, the imminent turn to the short side will be in play.
Keybot prints one pre-scheduled number this week on Friday morning. The targets keep moving and the wild market circus continues.
5/14/23;
7:00 PM EST =
5/12/23;
10:00 AM EST =
5/8/23;
3:59 PM EST = -5; signal line is -31
5/8/23;
3:48 PM EST = +11; signal line is -31
5/8/23;
3:46 PM EST = -5; signal line is -32
5/8/23;
10:28 AM EST = -21; signal line is -32
5/8/23;
9:36 AM EST = -5; signal line is -32
5/7/23;
7:00 PM EST = +11; signal line is -31
5/5/23;
3:56 PM EST = +11; signal line is -31
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