STOCK MARKET BEARISH -- SHORT -- CAUTION

Keybot the Quant is short as the stock market floats higher. The algo prints 4 numbers on Wednesday but none today.

Traders put their clothes back on at the AI orgy party and walk down the street to the bank party at the Love Shack. Tin roof, rusted! The bank stress tests are always a joke that result in happy upside and this time is no different. The banks may remain buoyant tomorrow into the weekend because they will announce changes to their divvy's, buybacks and other financial plans (for the good) Friday afternoon. The banksters rule the crony capitalism system.

The current situation is odd since the algo number is 12 points below the signal line but stocks are buoyant receiving pumps from the AI and bankster orgies. Bears need weaker banks to take stocks lower but XLF is running way above the 32.76 bull/bear line in the sand.

Bulls need higher copper to prove they can take stocks higher but the red metal is puking its guts out nowhere near the CPER 23.52 bull/bear line in the sand.

Bulls need stronger utilities but they are dragged to the shed behind the garage and beaten mercilessly. UTIL must be above 911 by the end of the Friday session or there will be trouble next week and going forward. Note that UTIL price came down to tag 888 which was last week's line in the sand called out by the robot.

Bulls can take stocks higher going forward if they push UTIL above 911 over the coming days. UTIL is at 897 forecasting horrific trouble for the stock market going forward. It is critical that UTIL recover above 911 pronto and going forward, otherwise, bad things are on tap for the stock market in the weeks forward.

Bulls need stronger commodities so GTX above 3270 would help the bulls. It is a Mexican standoff. Watch copper and the banks because the battle between these two major market influencers dictates the path ahead for stocks.

7/2/23; 7:00 PM EST EOM EOQ2 EOH1 =
6/30/23; 10:00 AM EST =
6/28/23; 3:36 PM EST = +2; signal line is +14
6/28/23; 12:57 PM EST = -14; signal line is +14
6/28/23; 11:33 AM EST = +2; signal line is +15
6/28/23; 10:58 AM EST = -14; signal line is +15
6/27/23; 10:00 AM EST = +2; signal line is +15