STOCK MARKET BEARISH -- SHORT -- CAUTION

Keybot the Quant remains short through all the Fed drama yesterday. The bulls need to push utilities and/or commodities higher, above UTIL 506.22 and/or GTX 4874, respectively, to restart the market upside. The key number for UTIL next week is 504.41 which will replace the 506.22 so watch UTIL's price action in relation to 504.41 as we approach the Friday closing bell. The bears need to push copper lower and volatility higher, below JJC 40.20 and VIX above 14.60, respectively, to accelerate the market selling. Copper is lower in early trading.

For the SPX, starting at 1763, the bulls need to push above 1775 to regain upside mojo, a formidable task but not impossible. If UTIL achieves 506.22 or GTX achieves 4874 (only 1 of the 2 would be required), and the SPX moves above 1775, and stays above, Keybot will likely flip long. The bears need to push under 1757 to accelerate the downside. A move through 1758-1774 is sideways action. S&P futures are -6 at this writing about 4-1/2 hours before the opening bell. Keybot prints a pre-scheduled number this evening which marks the month end (EOM). The bears continue to drive the bus despite the market buoyancy over the last few days. The imminent turn status is removed, for now, but will return if either UTIL moves above 506.22 or GTX above 4874. Happy Halloween.

11/3/13; 7:00 PM EST =

10/31/13; 7:00 PM EST EOM =

10/30/13; 1:17 PM EST = +46; signal line is +54

10/30/13; 10:35 AM EST = +62; signal line is +56 but algorithm remains short

10/30/13; 10:24 AM EST = +46; signal line is +56