STOCK MARKET BEARISH -- SHORT -- CAUTION --TURN MAY BE IMMINENT

Keybot the Quant remains short with the algo number 11 points below the signal line but the stock market continues higher on the Fed Chairman Powell and AI orgy rallies. The algo has been idling since mid-week waiting for a firm commitment one way or the other.

Utilities, copper, commodities and banks are running the stock market show currently. The first three are in the bear camp so the bulls need them on board if stocks are to continue higher. The banks are in the bull camp having a good ole time after promising more divvy's and buybacks late Friday in the corrupt crony capitalism system. Bears need weaker banksters if they want to stop the rally.

Bears need XLF below 32.80 to stop the rally in stocks.

Bulls need either UTIL above 911, CPER above 23.52, and/or GTX above 3276 to create another leg higher in stocks. Any one of them can flip bullish which would signal that the upside is real. 2 or all 3 flipping bullish means the orgy party is about to become more decadent with stocks shooting far higher.

If any of the 3 flip bullish, and the SPX moves above 4458, Keybot the Quant will likely flip long, hence the imminent turn notation is added to the title line.

Monday will be a big day even though it is a shortened session with the stock market closing at 1:00 PM EST for the July 4th holiday landing on Tuesday this year. US markets are closed on Tuesday for Independence Day, as talented and pretty Martina steals the show, and regular trading resumes from hump day forward.

Utilities failed last week opening the door to extremely bad things going forward for the weeks ahead. The bulls have a chance to save the day this week if they can push UTIL above 911 only 4 points away. If UTIL move above 911 and stays above in the week ahead, and then sets its sights on the 930-940 level, stocks are going to run higher. If, however, utes are weak and cannot regain 911 by the end of the week, it spells major trouble for stocks going forward. UTIL begins at the perhaps ominous, 906.66, number; trip 6's.

Copper futures will need to jump about +1.4% overnight Sunday into Monday morning to get CPER in the bull camp so check that in the early tape. Copper and commodities tell you a lot about the stock market ahead. Both need to rally to push stocks higher. If both remain in a lull and roll over lower, so will stocks. You can check XLF in the pre-market to see how the financials are trading.

Keybot prints one pre-scheduled number this week on Friday morning. Q2 and the first half of trading is in the bag. Q3 (July, August, September) trading begins tomorrow with the shortened session and everyone mad to be there instead of home enjoying a barbecue party.

7/9/23; 7:00 PM EST =
7/7/23; 9:00 AM EST =
7/2/23; 7:00 PM EST EOM EOQ2 EOH1 = +2; signal line is +13
6/30/23; 10:00 AM EST = +2; signal line is +14
6/28/23; 3:36 PM EST = +2; signal line is +14