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

Keybot the Quant remains long as the choppy sloppy stock market staggers along. Utes are in failure painting an ugly picture for weeks and months ahead. Copper remains in the bear camp. Banks popped this morning creating market joy but then fell on their sword so stocks fell like rocks.

XLF 32.75 is the key bull/bear line in the sand and price is inching higher again at 32.70.

Keybot the Quant continues champing at the bit to go short with the algo number 31 points below the signal line but the internal parameters will not yet latch. The SPX needs to drop below 4339 and trend lower for the quant to flip short. Price is at 4348 in real-time so bears have work to do.

It is simple. Bulls maintain stock market buoyancy if the XLF can move above 32.75. If the day moves along, and the XLF cannot turn bullish, stocks should roll over and die. As banks go, so goes the market.

Bears simply need SPX below 4339 to flip the model short and that is only a few dollars away. Choose your poison. Sing along with William Bell about the Poison in the Well.

Keybot prints 2 pre-scheduled numbers this week one tomorrow and one on Friday morning. The month of June (EOM), the quarter (EOQ2) and first half of the year (EOH1) end on Friday. Q3 trading begins on Monday. Investment houses may be repositioning many stocks this week, having to buy some of the performers, to make the investments look right for the half-year client statements (window-dressing).

7/2/23; 7:00 PM EST EOM EOQ2 EOH1 =
6/30/23; 10:00 AM EST =
6/27/23; 10:00 AM EST =
6/26/23; 10:15 AM EST = -16; signal line is +15 but algorithm remains long
6/26/23; 9:37 AM EST = +0; signal line is +15 but algorithm remains long
6/26/23; 9:36 AM EST = -16; signal line is +15 but algorithm remains long
6/25/23; 7:00 PM EST = +0; signal line is +15 but algorithm remains long
6/23/23; 2:53 PM EST = +0; signal line is +15 but algorithm remains long