STOCK MARKET BULLISH -- LONG -- CAUTION -- TURN MAY BE IMMINENT

Keybot the Quant remains long moving into the Thursday session. Interestingly, Keybot came close to flipping short with copper weak and commodities weakening. The GTX dropped to the 4969 bull-bear line in the sand and bounced only to weaken again and now sit only 3 bucks above at 4972 in the bull camp. Copper and commodities are having the strongest impact on broad market direction currently. Bulls win if JJC moves above 37.91. Bears win if GTX moves under 4969. If GTX loses 4969, and the SPX drops under 1919, and both remain under, it is very likely that Keybot will flip to the short side. Since this can easily occur with very little effort, the imminent turn notation is displayed. ECB's Draghi will decide the fate of the markets.

For the SPX starting at 1928 at new all-time highs, the bulls need to touch the 1929 handle and price will run to 1932 and higher quickly. The bears need to push under 1919 to accelerate the downside. A move through 1920-1928 is sideways action. Watch copper overnight since that will provide an initial projection for markets. The ECB Rate Decision announcement is 7:45 AM EST and the Draghi Press Conference begins 8:30 AM EST so futures should be active ahead of the US opening bell. Bulls win with JJC 37.91 and SPX 1929. Bears win with GTX 4969 and SPX 1919.

6/6/14; 9:00 AM EST =

6/4/14; 9:36 AM EST = +63; signal line is +59