STOCK MARKET BEARISH -- SHORT -- CAUTION -- TURN MAY BE IMMINENT

Keybot the Quant is short moving into the Friday session. The algo wants to flip to the long side at the opening bell today. The two key market influences right now are utilities and copper. Watch UTIL 480.83 and 477.91. In addition, UTIL 481.39 is important at the closing bell at 4 PM EST today as well as all next week. UTIL is above 480.83 and 477.91 so this creates the bullishness in markets yesterday afternoon and perhaps today. The bears need to push UTIL lower immediately or Keybot will flip long. Watch JJC 41.38. Price is below so this helps the bears create market negativity. If the bulls move JJC above 41.38, it is smooth sailing higher with a recovery rally on tap.

For the SPX closing at the highs at 1622.56, the bulls only need to see a smidge of positivity in the futures ahead of the opening bell and Keybot should flip long. If there is a large gap up at the open of 10 to 12 SPX points or more, Keybot may delay flipping long until around 11 AM EST. The bears need to push under 1599 to accelerate the downside. A move through 1600-1621 is sideways action today. A pre-scheduled number prints ahead of the opening bell. Updates will be provided this morning but from mid-morning on, the updates will likely wait until the weekend.

6/7/13; 9:00 AM EST =

6/5/13; 2:26 PM EST = +36; signal line is +31 but algorithm says stay short

6/5/13; 1:06 PM EST = +20; signal line is +31