STOCK MARKET BEARISH -- SHORT

Keybot the Quant remains short. The futures and global markets will be interesting this evening in light of the weak Jobs Report released on Friday.  Keybot is currently scanning the following levels of interest; CRB 312 (bearish), UTIL 464.68 (bearish), JJC 48.87 (bearish) and SOX 423.50 (bearish). In addition, the quant is now tracking financials, XLF 15.10 (now bullish) and retail, RTH 40.75 (now bullish), for the next signs of further market weakness.

For the SPX, a ten to twenty handle drop may occur due to the disappointing Jobs Report, thus, from 1398, that places the SPX in the 1378-1388 range. A loss of the 1388-1389 level is very bearish. A loss of the 50-day MA at 1370.05 is extemely bearish, perhaps at least a test of this support level, 1370-1372, is on tap for the new week. SPX S/R is 1388-1389, 1386, 1378, 1370-1372.

The market bears are cruising.  The algo prints one pre-scheduled number on Friday.  To gauge the inflow of dip-buyers, or not, watch the sectors as described above, especially JJC and SOX.  Happy Passover and Happy Easter to all.

4/15/12; 7:00 PM EST =

4/13/12; 10:00 AM EST =

4/8/12; 7:00 PM EST = +14; signal line is +43

4/6/12; 9:00 AM EST = +14; signal line is +44

4/5/12; 3:37 PM EST = +14; signal line is +45