Monday, November 4, 2013

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

Keybot the Quant remains short as equities float higher. The bulls pull UTIL above 504.41 into their camp which creates this afternoon's buoyancy. Copper and commodities remain weak. Tomorrow is a battle between copper and utes and the winner sends the market in the same respective direction. Bears need to push UTIL below 504.41 pronto to move the broad indexes lower. Bulls need JJC above 40.20 and it will be wine and rainbows for the bulls moving markets higher. If JJC moves above 40.20 in Tuesday's trade, and the SPX moves above 1769, and both stay above, along with utes remaining elevated, Keybot will likely flip to the long side, hence the imminent turn message is in the title line. The algo number is only 3 points from the signal line. Bulls and bears are fighting it out and a decision needs to be made. Watch copper in overnight trading; if negative, the bears are fine; if positive, the bulls will be poised to run the markets higher tomorrow and flip Keybot long.

For the SPX starting at 1768, the bulls need one point, to touch the 1769 handle, and another upside acceleration is on tap. Watch the S&P futures overnight since any positivity will set up another happy bull day for Tuesday. The bears need to push under 1762 to accelerate the downside. A move through 1763-1768 is sideways action.

11/8/13; 9:00 AM EST =
11/4/13; 12:52 PM EST = +46; signal line is +49
11/4/13; 9:49 AM EST = +30; signal line is +50

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