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

Keybot the Quant remains short. The SPX continues the sideways shuffle through 1780-1800 for the last 6 days. Bulls need higher utilities, copper and/or commodities to provide a go-signal for further market upside but none of the 3 appear enthusiastic. Watch UTIL 503.04 for today only. If UTIL moves above 503.04, and the SPX prints above 1797 and higher, and stays above, Keybot will likely flip long. UTIL begins at 495.87 well under the 503.04 which hints that markets may simply meander sideways into the weekend, however, the important UTIL numbers for next week are 489.85 and 481.68, far easier target levels for market bulls to remain above. Thus, this afternoon, at the 4 PM close, watch UTIL to see if it prints under 490, or not. Market bears want to see UTIL under 490, otherwise, the bulls will receive upside market juice come Monday morning.

For the SPX starting at 1796, the bulls only need one point higher, to punch up through 1797, and the upside party continues over 1800. The bears need to retrace yesterday's up move, a formidable task but not impossible (the bulls retraced Wednesday's sell off yesterday), and push under 1784 to get their mojo back. A move through 1785-1796 is sideways action. The S&P futures are -1 at this writing about 3-1/2 hours before the opening bell. The imminent turn notation is in the title line but without higher utes, copper and/or commodities, the bulls may have a difficult path for flipping the algo long. Markets remain erratic and unstable. The UTIL 490-ish level at today's closing bell will tell a lot.

11/24/13; 7:00 PM EST =  

11/21/13; 9:39 AM EST = +30; signal line is +39