STOCK MARKET BULLISH -- LONG -- CAUTION

Keybot the Quant remains long as the big upside rally continues. The bulls are in charge with the algo number 8 points above the signal line which is nothing to write home about. Note how the signal line is dead flat at +38 and the bulls and bears battle it out 8 points above and 8 points below. One side or the other will win going forward.

Banks, copper and volatility are all that matter. The bulls pumped the banks yesterday to go into the Juneteenth holiday on a happy note.

Bulls need higher copper; it is the missing piece to their puzzle. Bulls need CPER above 27.96 to declare that stocks will keep growing to the sky forever.

Bears need lower financials if they want to growl. Bears need XLF below 41.16 to damage the stock market. If banks fail, consider the imminent turn to the downside to be in play. If XLF loses 41.16 tomorrow, and the SPX falls below 5472 heading lower, Keybot the Quant will likely flip short.

If the bears begin growling due to XLF failing below 41.16, watch volatility. If the VIX moves above 13.86 the bears are in business and the downside will have legs. The bulls have only one task to keep sending stocks higher and that is to push copper higher.

Keybot prints a pre-scheduled number tomorrow morning. Enjoy the holiday and stock market with a picnic at Itchykoo Park. It's all too beautiful.

6/23/24; 7:00 PM EST =
6/20/24; 9:00 AM EST =
6/18/24; 3:42 PM EST = +46; signal line is +38
6/18/24; 3:08 PM EST = +30; signal line is +38 but algorithm remains long
6/18/24; 11:46 AM EST = +46; signal line is +38
6/16/24; 7:00 PM EST = +30; signal line is +38 but algorithm remains long
6/14/24; 10:00 AM EST = +30; signal line is +38 but algorithm remains long
6/13/24; 9:52 AM EST = +30; signal line is +38 but algorithm remains long