STOCK MARKET BEARISH -- SHORT

Keybot the Quant is short and the algo number drops further south after the opening bell due to weakness in the utility sector, as discussed on the weekend. The dollar is up today which is bear-friendly as well, keeping commodities and oil in check, but copper is buoyant with traders hoping for some type of stimulus from China or others.  As long as the CRB remains under 312 and UTIL remains under 463, the broad markets will remain weak and prefer the sell side.

Note that the caution flag was removed in the title for the first time in a long time. Things can change quickly and perhaps it is premature, if either CRB or UTIL exceed their targets the caution flag will reappear.  For now, the bears are cruising. It is of no consequence how the SPX moves right now, as long as CRB and UTIL remain below the targets shown, the markets will start to move lower. UTIL now rebounded from the drop after the opening bell so keep watching, at 459.32 now, 463, which is what the bulls need to regain market control, is three and one-half points higher.  The ISM Mfg Index minutes from now will create a market pivot point.

4/8/12; 7:00 PM EST =

4/6/12; 9:00 AM EST =

4/2/12; 9:37 AM EST = +46; signal line is +65

4/1/12; 7:00 PM EST EOM EOQ1 = +62; signal line is +65

3/30/12; 10:00 AM EST = +62; signal line is +66