STOCK MARKET BULLISH -- LONG -- CAUTION

Keybot the Quant remains long. Today shows another bull-bear struggle ongoing.  The upside ran but the semiconductors, SOX, would not permit a move up over the 418.50 level (418.25 during Tuesday morning), so the broad indexes petered out and drifted lower as the day played out.  For Wednesday, watch SOX 418.50 and CRB 311.75. These are the two remaining major bear-friendly sectors so the bulls cannot move the markets higher without their cooperation.

For the SPX starting at 1406, the bulls need to move above 1415 to accelerate the upside, nine points higher.  The bears are not in any better shape needing ten points lower to push under the 1396 level to accelerate the market downside. A move thru 1397-1414 is sideways action. Keybot did not print any numbers today as the broad indexes sort out this sideways funk. Markets are very erratic and unstable.

5/6/12; 7:00 PM EST =

5/4/12; 9:00 AM EST =

4/30/12; 7:00 PM EST EOM = +46; signal line 25

4/29/12; 7:00 PM EST = +46; signal line 24