Keybot the Quant remains short. The robot was busy yesterday spitting-out 9 numbers and the VIX is already active this early morning in the States flipping back to the bull camp.
Semiconductors failed yesterday creating the soggy stock market. Chips, volatility and copper are all that matter.
Bulls need SOX above 3615.50, now only 5 bucks away, to create buoyancy in the stock market. S&P futures are higher so this will likely occur. Inflation data drops at 8:30 AM EST, less than 4 hours away, and will move markets so the jury remains out.
The VIX is at 15.61. That is funny. The bull/bear line in the sand is ....... wait for it ....... wait a bit longer for it ........ no, you really should wait longer for it since it is remarkable ....... 15.61. Keybot tells you the important numbers before they occur. The battle at VIX 15.61 will continue today.
Bulls need CPER above 23.73 which represents a +1.2% gain in the red metal. Copper futures are up +0.4% so the bulls have more work to do.
Thus, copper is remaining bearish for now, so semi's and volatility will likely dictate the path ahead. If VIX remains below 15.61, and if the SOX turns bullish, and the SPX moves above 4502, Keybot the Quant would likely flip long. S&P futures are up +25 points. The SPX is at 4468 so a 25-point boost would place the cash index at 4493. The bulls will need more than that. All eyes are focused on the inflation data.
8/13/23;
7:00 PM EST =
8/11/23;
10:00 AM EST =
8/10/23;
3:06 AM EST = +12; signal line is +29
8/9/23;
3:59 PM EST = -2; signal line is +30
8/9/23;
3:44 PM EST = +14; signal line is +32
8/9/23;
2:21 PM EST = +28; signal line is +33
8/9/23;
10:57 AM EST = +14; signal line is +34
8/9/23;
10:33 AM EST = +28; signal line is +36
8/9/23;
6:43 AM EST = +14; signal line is +36
8/9/23;
6:33 AM EST = +28; signal line is +37
8/9/23;
5:52 AM EST = +14; signal line is +37
8/9/23;
4:11 AM EST = +28; signal line is +38
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