STOCK MARKET BULLISH -- LONG -- CAUTION

Keybot the Quant remains long as the market circus continues. Stocks are floating higher looking forward to inflation data on Tuesday and Wednesday and Fed Chairman Powell's press conference on Wednesday.  The bulls are in charge with the algo number 25 points above the signal line.

The stock market is robust on the bullish side although there are a couple of interesting things to watch today to forecast what may be on tap next week.

Bulls need stronger copper, commodities and utilities to extend the rally higher. Bulls need CPER above 23.52, GTX above 3282 and UTIL above 928.44. Any 1 of the 3 turning bullish will send equities strongly higher into the weekend.

CPER needs a +0.9% pop to tag 23.52 but copper futures are up only +0.2%. Stocks will catapult higher if copper futures increase above +0.9% today.

Utilities have been in failure mode indicating bad things for the stock market going forward. For this week, UTIL 928.44 is the key bull/bear line in the sand. Price moves higher to 921 creating high drama. For all of next week, the 928.44 becomes a worthless number replaced with 916.23.

Thus, if UTIL moves above 928.44 today, stocks will rally bigtime into the weekend. If UTIL ends the week above 916.23, that tells you that the US stock market will begin Monday morning on a positive upbeat likely headed to more upside joy. If UTIL fails to achieve 928.44 today, or does and fails, and then finishes today below 916.23, that tells you that next week is likely set up for the start of an epic and historic drop in the stock market.

Bulls need CPER above 23.52, GTX above 3282 and UTIL above 928.44 today, or UTIL above 916.23 at the closing bell today, to signal the all-clear for far higher stock prices. If none of these four outcomes occur today, the stock market rally will stall and sputter.

6/11/23; 7:00 PM EST =
6/6/23; 9:36 AM EST = +0; signal line is -25
6/5/23; 2:09 PM EST = -16; signal line is -27
6/5/23; 2:02 PM EST = +0; signal line is -27
6/5/23; 1:26 PM EST = -16; signal line is -28
6/5/23; 12:11 PM EST = +0; signal line is -29
6/5/23; 9:58 AM EST = -16; signal line is -30
6/4/23; 7:00 PM EST = +0; signal line is -30
6/2/23; 10:22 AM EST = +0; signal line is -31
6/2/23; 9:36 AM EST = -16; signal line is -31
6/2/23; 9:00 AM EST = -34; signal line is -30 but algorithm remains long
6/1/23; 3:20 PM EST = -34; signal line is -30 but algorithm remains long
6/1/23; 1:15 PM EST = -18; signal line is -29
5/31/23; 7:00 PM EST EOM = -34; signal line is -28 but algorithm remains long