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

Keybot the Quant remains short as the robot spits out a dozen numbers yesterday a very active day start to finish. Stocks are crazy, going loco, with parameters flip-flopping unwilling to commit in either direction. Loco-motion by Little Eva.

The bulls punch back at yesterday's negativity and the algo wants to flip long with the algo number 5 points above the signal line but the internal parameters will not yet fully latch to permit the move. If the SPX moves above 4457 trending higher, Keybot the Quant will likely flip long, hence the imminent turn notation in the title line. Thus, 7 points of SPX upside is needed for the bulls to smile but S&P futures are down -6.

Bears need weaker chips and retail stocks if they want to create more selling in the stock market. Bears need SOX below 3581.51, price sits on top of this line in the sand, and/or RTH below 175.12 and price sits at this line in the sand as well. Higher volatility will also help bears. VIX is at 14.58 but bears cannot growl until VIX is above 15.10.

Bulls will be running stocks higher if they pump XLF above 34.25 and price begins at 34.23. Flip a coin with this drama going on. It is all game of pennies and dollars right now. Chips are marginally soggy in the pre-market. AMZN is negative pre-market and it drives the RTH. XLF slips to 34.17 in the pre-market so it makes sense that the S&P futures are marginally negative.

Chips, retail stocks, volatility and banks are controlling stock market direction today. 

9/10/23; 7:00 PM EST =
9/7/23; 2:56 PM EST = +11; signal line is +6 but algorithm remains short
9/7/23; 2:33 PM EST = -5; signal line is +6
9/7/23; 12:36 PM EST = +11; signal line is +6 but algorithm remains short
9/7/23; 12:07 PM EST = -5; signal line is +5
9/7/23; 11:55 AM EST = -19; signal line is +5
9/7/23; 11:37 AM EST = -5; signal line is +4
9/7/23; 11:04 AM EST = -19; signal line is +4
9/7/23; 10:58 AM EST = -35; signal line is +4
9/7/23; 10:49 AM EST = -21; signal line is +5
9/7/23; 10:06 AM EST = -35; signal line is +5
9/7/23; 9:36 AM EST = -19; signal line is +5
9/7/23; 8:37 AM EST = -3; signal line is +5
9/6/23; 2:28 PM EST = +11; signal line is +3 but algorithm remains short