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

Keybot the Quant remains short but wants to flip back to the long side. The algo number is 6 points above the signal line but the internal parameters are not yet fully latched to allow the move to the long side. It is more chop suey with stocks up, down, down, up, and back again.

Come Monday, if the SPX can gradually move higher above 4474 trending higher, Keybot the Quant will likely flip long, hence the imminent turn notation in the title line. It is a coin-flip these days.

Yesterday, the bulls needed a gradual move high in the SPX to push the robot into going long but instead price shot up over 11 points higher out of the gate. That activity triggers a gap-up timer and does not allow the move to occur for about 90 minutes (the exact minutes will not be disclosed). Stocks print a high at about 10 AM EST and were downhill ever since staggering into the weekend.

The chips put a kibosh on the upside party failing into the bear camp shortly after Friday's opening bell but after that the bulls pumped banks higher to try and salvage the day and stop the semiconductor negativity.

On Monday morning, as banks go, so goes the stock market. Bears need XLF 34.25 with price at 34.30. Watch it in the pre-market. If stocks sell off on Monday but the XLF does not drop below 34.25, the bears got buptkis and stocks will recover.

Bulls will run higher if semiconductors run higher. Bulls need SOX above 3580 to prove they got upside game. If stocks rally but the SOX cannot achieve 3580, the rally will fade, roll over and die.

There are lots of other moving parts but XLF 34.25 and SOX 3580 is enough for you to know what is controlling stock market direction for Monday.

Copper soiled the sheets dumping -4% last week. If the economy is so rosy, including the glorified golf carts boondoggle (EV's), why is everyone shouting, "we don't need no steenkin' copper" and shunning Dr Copper like he is a lepper?

9/10/23; 7:00 PM EST =
9/8/23; 10:27 AM EST = +11; signal line is +5 but algorithm remains short
9/8/23; 9:43 AM EST = -5; signal line is +5
9/7/23; 2:56 PM EST = +11; signal line is +6 but algorithm remains short