STOCK MARKET BULLISH -- LONG

Keybot the Quant remains long moving into the new week of trading. The bears were bludgeoned last week with the SPX and Dow running higher for six consecutive days. Copper is a bear killer. The algo is tracking both copper and retail as the two major influences on market direction currently. The bulls are cruising with JJC above 37.60 and RTH above 59.00. The bullish strength is also evident with the +79 algo number which is an overbot condition for the algorithm. The algo number is likely pegged as high as it will go so the question would be how far the broad indexes can move higher before the pending turnaround. Bears got absolutely nothing without sending the copper and retail sectors lower.

For the SPX starting at 1963, ending near the highs again, the bulls only need one point, to touch the 1964 handle, and the upside orgy will continue with a several handle acceleration to 1970. The bears need to push under 1959 to accelerate the downside. A move through 1960-1963 is sideways action for Monday and since it is such a tight range a winner will likely be decided. Watch the overnight futures to see if the bulls are providing that one point of oomph in the S&P's, or not. Also watch to see how copper is trading which will set the tone.

The bulls are driving the bus with their feet up on the dash. The caution and/or imminent turn status will return to the title line above if copper and/or retail weakens. Keybot prints two pre-scheduled numbers this week one on Tuesday and the other on Friday. The month of June ends in six trading days. June began at 1923.57 about 40 points lower.

6/30/14; 7:00 PM EST EOM =

6/29/14; 7:00 PM EST =

6/27/14; 10:00 AM EST =

6/24/14; 10:00 AM EST =

6/22/14; 7:00 PM EST = +79; signal line is +62

6/20/14; 9:36 AM EST = +79; signal line is +62