STOCK MARKET BULLISH -- LONG -- CAUTION -- TURN MAY BE IMMINENT

Keybot the Quant remains long despite the Friday drama and negativity. The banks and copper are sitting on the bull/bear lines in the sand that the quant identified ahead of time.

Keybot is champing at the bit to go short with the algo number 15 points below the signal line but the internal parameters will not fully latch yet.

An ominous picture emerges since utilities are set up to fail on Monday morning. UTIL is at 902 and must move above 923.21 next week, otherwise, the US stock market is in a crash profile going forward (significant losses expected in stocks for the weeks and months ahead; this is not child's play; stay alert, nimble and active).

It is a game of pennies, literally. Copper, commodities, banks and utes are running the stock market show currently. All are set up negatively but only by hairs.

The bulls need either CPER above 23.55 (now at 23.54 one penny in the bear camp), GTX above 3281 (now at 3236 in the bear camp only 45 bucks away), and/or XLF above 32.75 (now at 32.74 only one penny in the bear camp). Any one of these turning bullish will immediately stop the stock market selling and a relief rally will begin.

The path forward is simple for the bears. Do nothing and stocks will sink like rocks. It is up to the bulls to stop the negativity.

If the SPX slips below 4341 trending lower (starting Monday morning at 4348), Keybot the Quant will likely flip short. Bears do not want a gap-down move since that would delay the flip to the short side. Bears needs slow steady gradual weakness and when/if it loses 4341, that will seal the market's fate. What do you think? A Black Monday on tap?

If S&P futures are down -7 overnight Sunday into Monday morning, that indicates trouble ahead. Also, watch copper futures to see if they are trading positive or negative; ditto the banks, you can check XLF in the pre-market. It may be a Manic Monday, as the girls play and sing.

6/25/23; 7:00 PM EST =
6/23/23; 2:53 PM EST = +0; signal line is +15 but algorithm remains long
6/23/23; 11:33 AM EST = +16; signal line is +13
6/23/23; 9:36 AM EST = +0; signal line is +11 but algorithm remains long
6/22/23; 11:09 AM EST = +32; signal line is +10