Sunday, October 6, 2024

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

Keybot the Quant remains short but is champing at the bit to go long. The price action remains wild with the VIX above 20. Expect more wild intraday and day to day price swings in stocks going forward.

If the SPX moves above 5753-5770 (depends on internal parameters), Keybot the Quant will likely flip long, hence the imminent turn notation in the title line. It will be key if the S&P futures are positive or negative overnight into the Monday session.

The bears need weaker chips, commodities and banks if they want to retain their stock market control. Bears need SOX under 5060, GTX below 3560 and XLF under 44.19. Any 1 of the 3 will immediately put the bears back in the pole position with stocks dropping. All 3 turning negative would send the stock market far lower.

If none of the 3 parameters turn bearish, the bears are in trouble and the bulls will likely takeover. However, the bulls need the VIX below 15.67 to verify that more upside for stocks is real and on the way. Bulls got nothing going forward, even if the quant flips bullish, unless the VIX falls below 15.67.

Keybot prints a pre-scheduled number on Friday morning. Focus on the SPX 5753, SOX 5060 and GTX 3560 bull/bear lines in the sand.

10/13/24; 7:00 PM EST = 
10/11/24; 10:00 AM EST = 
10/6/24; 7:00 PM EST = +46; signal line is +39 but algorithm remains short
10/4/24; 9:00 AM EST = +46; signal line is +39 but algorithm remains short
10/2/24; 10:01 AM EST = +46; signal line is +38 but algorithm remains short
10/1/24; 3:36 PM EST = +30; signal line is +37

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.