STOCK MARKET BEARISH -- SHORT -- CAUTION

Keybot the Quant remains bearish. The SPX pushed upwards to 1520 resistance and then pulled back to close at 1516 support. Copper and commodities dropped about one-half percent today but the equities markets gained over one percent; very odd behavior. The bulls will need to move GTX above 4920 and likely higher to gain upside fuel. The bears must push the VIX back above 15.70 to stop the upside market momo.

For the SPX starting the Thursday session at 1516, the bulls need to touch the 1520 handle and an upside acceleration to 1524 will occur quickly and then higher if 1524 gives way.  The bears need to retrace today's move to 1495, 19 points lower, a formidable task but not impossible, and a downside acceleration will occur into the 1480's.  A move through 1496-1519 is sideways action.  The SPX is where it started this week on Monday morning, dead flat on the week thus far. Obviously markets are unstable and erratic looking at the last seven days of trading. Higher volatility will lead to larger and larger intraday point swings. Keybot prints the pre-scheduled EOM print tomorrow evening.

3/1/13; 10:00 AM EST =

2/28/13; 7:00 PM EST EOM =

2/27/13; 10:21 AM EST = +49; signal line is +53

2/26/13; 11:51 AM EST = +33; signal line is +53