Keybot the Quant is short to start the new trading week. On Friday, the retail sector, RTH, dropped to a near failure at 44.45. RTH starts at 44.46. Plain and simple, the broad indexes will move up if the RTH stays above 44.45. If RTH fails 44.45, the broad indexes will take another leg lower with the SPX moving down into the 1400's. Also watch utilities this week, UTIL, the 50-week MA is at 465.63, and this represents a trap-door where the markets should go into free fall if the 465.63 fails.
For the SPX, starting at 1414, the bears only need one point lower, to lose the sturdy 1413 support, and the downside will accelerate. Watch the Sunday overnight futures, negativity would pave the way to the low 1400's for the SPX. The bulls must make a stand and stop the downward slide by keeping the SPX above 1413 and the RTH above 44.45. A move thru 1414-1433 is sideways action. Keybot prints one pre-scheduled number this week on Friday morning.
11/11/12; 7:00 PM EST =
11/9/12; 10:00 AM EST =
11/4/12; 7:00 PM EST = +1; signal line is +20
11/2/12; 9:00 AM EST = +1; signal line is +22
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