Tuesday, November 5, 2013

STOCK MARKET BEARISH -- SHORT -- CAUTION

Keybot the Quant remains short through the wild sideways action the last few days. UTIL is below 504.41 causing bearishness. JJC is under  40.22 causing bearishness. XLF is above 20.39 causing bullishness. Bears need XLF under 20.39 to kick the market downside into gear. Bulls need either UTIL 504.41 and/or JJC 40.22 to continue pushing markets higher and if one of these flip long, and the SPX moves above 1767, Keybot may flip to the long side. So another day of drama is on tap for Wednesday.

For the SPX starting at 1763, the bulls need to move above 1767 to accelerate the upside to test 1769 and 1772. The bears need to push under 1756 to accelerate the downside to 1752 in quick order. A move through 1757-1766 is sideways action. If either UTIL or JJC turn bullish, as described above, consider a turn to be imminent for the algo. If XLF fails, is is smooth sailing lower for bears.

11/8/13; 9:00 AM EST =
11/5/13; 2:02 PM EST = +30; signal line is +47
11/5/13; 10:25 AM EST = +46; signal line is +48

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