STOCK MARKET BULLISH -- LONG -- CAUTION

Keybot the Quant remains long and has not printed any numbers thus far this week. Today should change that with copper dropping -1.5% this morning. The bears can stop the market upside with either JJC 37.92, GTX 4970 and/or RTH 58.65, so weaker copper, commodities and retail, respectively. All 3 are above the levels listed creating market bullishness. Yesterday, GTX came down to 4974 and bounced so the bears did not have enough oomph. JJC should drop under 37.92 at the opening bell today, however, and will place a lid on any further equity upside. Keybot will likely need to see at least 2 of the 3 parameters above turn bearish to move into position for a potential flip to the short side.

For the SPX starting at 1924, the bulls need to move above 1925 and price will accelerate to 1930 in quick order. The bears need to push under 1919 to create a downside acceleration. A move through 1920-1924 is sideways action. Markets may favor a sideways move considering the ECB stimulus announcement occurs this time tomorrow. The caution flag is out since copper is weakening. Watch JJC 37.92 and GTX 4970 closely going forward.

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

6/1/14; 7:00 PM EST EOM = +79; signal line is +59