STOCK MARKET BULLISH -- LONG -- CAUTION -- TURN MAY BE IMMINENT

Keybot the Quant remains long as the stock market drama continues. Apple, AI hype, inflation data and the Fed all hit home runs this week so traders trip over each other to buy stocks at the ask with both fists. It is interesting that the banks and copper failed after Pope Powell brought the tablets down from On High creating the upside orgy.

The banks and copper are running the show right now (if the Fed is waiting too long to cut and are making an error you will see it occur with the banks in trouble going forward).

The quant is champing at the bit to go short with the algo number 8 points below the signal line. The internal parameters will not latch to permit the move yet. The bulls keep pulling the rug out from the bears like Lucy pulling the football away from Charlie Brown. Will tomorrow be different?

XLF 41.24 and CPER 27.99 are key bull/bear lines in the sand. Despite the stock market floating higher, banks and copper want to pull it lower and both are creating negativity under the surface. Keybot the Quant will likely flip short tomorrow if the SPX drops below 5403 and remains below. So take a Sharpie and write that number on your forehead. The SPX begins at 5434 so bears need a 31-point drop.

Bulls can only take stocks higher if they push XLF above 41.24 and/or CPER above 28. Either one will do and create a leg higher for US stocks into the weekend. If stocks are rallying but banks and copper do not turn bullish, the bulls got nothing and stocks should reverse and head lower giving-up any rally.

Thus, bears need SPX 5403 to sing a happy dance and flip the quant short while bulls need stronger banks and copper to continue the upside party. Shiny Happy People.

Happy Flag Day tomorrow. Happy Birthday to the US Army. And the Caissons Keep Rollin' Along. 

6/16/24; 7:00 PM EST =
6/14/24; 10:00 AM EST =
6/13/24; 9:52 AM EST = +30; signal line is +38 but algorithm remains long
6/13/24; 9:39 AM EST = +46; signal line is +37
6/12/24; 2:44 PM EST = +30; signal line is +36 but algorithm remains long
6/12/24; 2:30 PM EST = +46; signal line is +35
6/12/24; 2:06 PM EST = +30; signal line is +34 but algorithm remains long
6/12/24; 9:36 AM EST = +46; signal line is +34
6/11/24; 9:36 AM EST = +30; signal line is +33 but algorithm remains long
6/10/24; 3:59 PM EST = +46; signal line is +32
6/10/24; 3:04 PM EST = +62; signal line is +30
6/10/24; 2:28 PM EST = +46; signal line is +28
6/10/24; 1:50 PM EST = +62; signal line is +27
6/10/24; 1:08 PM EST = +46; signal line is +26
6/10/24; 12:54 PM EST = +30; signal line is +26
6/10/24; 11:46 AM EST = +46; signal line is +27
6/10/24; 11:33 AM EST = +30; signal line is +27
6/10/24; 10:27 AM EST = +16; signal line is +27 but algorithm remains long
6/10/24; 10:10 AM EST = +32; signal line is +27
6/10/24; 9:38 AM EST = +16; signal line is +27 but algorithm remains long
6/9/24; 7:00 PM EST = +32; signal line is +28
6/7/24; 9:36 AM EST = +32; signal line is +28
6/7/24; 9:00 AM EST = +48; signal line is +27
6/6/24; 2:28 PM EST = +48; signal line is +27
6/6/24; 2:14 PM EST = +32; signal line is +25
6/6/24; 1:31 PM EST = +48; signal line is +25
6/6/24; 12:24 PM EST = +32; signal line is +24
6/5/24; 2:15 PM EST = +32; signal line is +24; go long 5339; (Benchmark SPX for 2024 = +11.9%)(Keybot algo this trade = -1.8%; Keybot algo for 2024 = -1.1%)(Actual results this trade = -1.7%; Actual results for 2024 = +2.5%)