Tuesday, November 13, 2012

STOCK MARKET BEARISH -- SHORT -- CAUTION

Keybot the Quant is short to start the Tuesday session and did not print any numbers yesterday.  Trouble over Greece has the global markets and the U.S. futures lower overnight.  Yesterday was a throwaway session since the volume was fumes, likely the second lowest volume day of the year.  The quant continues to track the lines in the sand; SPX 1369.44 (now at 1380.03) and NYA 8003 (now at 8054).  The NYSE had technical gliches yesterday so the NYA was not printing properly until after lunch. 

For the SPX starting at 1380, the bulls need to touch the 1385 handle and an upside market acceleration will occur.  The bears have a slightly easier path only needing to drop under 1377, three points lower, and a downside acceleration will occur sending the SPX for a test of the edge of the cliff at 1369. If 1369 is lost, all hope is lost for market bulls. A move thru 1378-1384 is sideways action. The S&P's are down 11 in the overnight session right now, about 5 1/2 hours before the U.S. opening bell.

11/18/12; 7:00 PM EST =
11/11/12; 7:00 PM EST = -46; signal line is -18

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