Monday, November 4, 2013

STOCK MARKET BEARISH -- SHORT -- CAUTION -- TURN MAY BE IMMINENT

Keybot the Quant is short to begin the new week of trading. Utilities and copper are in command to begin trading. Bulls need to keep UTIL above 504.41 and JJC above 40.20 to keep floating equity markets higher. If UTIL and JJC remain above their respective bull-bear lines in the sand, and the SPX moves above 1766, and all stay above, Keybot will likely flip to the long side, hence the imminent turn status. Copper is weak in early trading.

For the SPX starting at 1762, the bulls need to touch the 1766 handle to unleash an upside acceleration to the 1770+ handle. The bears need to push under 1753 to accelerate the market selling. A move through 1754-1765 is sideways action today. S&P futures are +3 about 5-1/2 hours before the opening bell which would set up a test at the 1765-1766 level. The market bears will continue driving the bus if UTIL and/or JJC drops under the levels listed above. Keybot prints two pre-scheduled numbers this week both on Friday morning.

11/10/13; 7:00 PM EST =
11/8/13; 10:00 AM EST =
11/8/13; 9:00 AM EST =
11/3/13; 7:00 PM EST = +46; signal line is +53
10/31/13; 7:00 PM EST EOM = +46; signal line is +54

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