Thursday, November 1, 2012

STOCK MARKET BEARISH -- SHORT

Keybot the Quant remains short as the bulls run higher today. The pre-scheduled number results in the signal line dropping two ticks.  RTH remains above 44.44. GTX remains under 4920. The SPX pushed thru 1419 so 1424 was the target and price is printing there now.  A move thru 1424 will target 1429.  The bulls will need to see the GTX over 4920 to sustain a rally.  Further, the semiconductors are mounting a comeback and Keybot is now tracking SOX 380. The SOX is now at 373.19, if it moves above 380, the markets will receive an extended upside rally.  Otherwise, the upside enthusiasm will likely peter away. Any further upside headway by the bulls will cause the caution flag to be displayed.

11/4/12; 7:00 PM EST =
11/2/12; 9:00 AM EST =
11/1/12; 10:00 AM EST = +1; signal line is +23
10/31/12; 7:00 PM EST EOM = +1; signal line is +25

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