STOCK MARKET BEARISH -- SHORT -- CAUTION

Keybot the Quant remains short. The market soap opera plays on. Semiconductors collapse today. The algo now latches onto SOX 497.09 as a bull-bear line in the sand. SOX is 497.88 only 79 pennies away from creating a strong down leg for equities. The semi's will tell you a lot moving forward. The battle on Wednesday will be semi's versus utilities. UTIL dropped under 503.04 today ushering in the market negativity. UTIL is 502.58. Bulls will be happy and heading back up over SPX 1800 with UTIL 503.04. Bears will continue to foster market negativity if UTIL stays under 503.04.

Volatility is a second tier priority that Keybot highlights; VIX 13.97 is the bull-bear line in the sand. VIX has moved higher over the last couple days now at 13.39. VIX 13.97 would usher in a strong down leg for markets. For the SPX starting at the 1788, which acted as a pivot all day long, the bulls need to push above 1795.50 and an upside acceleration will occur sending the SPX back towards 1800. Watch the strong 1791-1792 resistance. The bears need to push under 1785 to accelerate the downside. A move through 1786-1795 is sideways action.

Watch UTIL 503.04, SOX 497.09, VIX 13.97 and SPX 1795.50 and 1785 to determine market direction. For now, the imminent turn status is removed from the title line after being in place for the last one and one-half weeks. If UTIL moves above 503.04, consider the imminent turn status to be in immediate effect again and the bulls are making a charge higher. If UTIL moves above 503.04 and SPX moves above 1795.50 and higher, and both stay above, Keybot will likely flip long. If SOX loses 497.09 and/or VIX 13.97 occurs, equities are heading lower. Markets remain erratic and unstable.

11/24/13; 7:00 PM EST =  

11/19/13; 1:01 PM EST = +30; signal line is +41