This column was originally published on RealMoney on Oct. 11 at 7:00 a.m. EDT. It's being republished as a bonus for TheStreet.com readers.The hunt for "red" October is on. The bears remain in hot pursuit. Over a month ago, I stated that the cycles were pointing down into October and that it looked like a poor bet for the fourth quarter to bail out the five-year decennial bulls. These are the bulls that have been clinging to the prospect that this "5" year, 2005, like most every other year ending in the numeral 5 in the past, would be a rally year with a close to the upside. However, the outside-down January told us that despite what might occur in the second and third quarters, there was a better-than-average likelihood that the popular averages would give a down year. And we said so at that time in January. As the fourth quarter commenced, the bulls have been coughing up their positions as the window for an up year gets narrower and narrower. Moreover, September, which is typically the worst-performing month, perversely may have set the bulls up, serving up a dose of complacency as the month remained up with two rally attempts that tested the high of the year scored on Sept. 3 -- 1245.80 on the S&P 500. That 1245.80 level now becomes an important point from which to measure the market. Here are the key levels to watch (which I will diagram in a Square of Nine Chart tomorrow) from that 1245.80 high: Ninety degrees down on the Gann Square of Nine Chart is 1210 S&P. One-hundred and eighty degrees down is 1177, which is interesting as that is the high of the first rally in May off the April low this year. Two-hundred and seventy degrees down is 1142, which is interesting because 1142.60 is the low on April 15. There was only one lower close this spring: 1137.50 on April 20. Two-hundred and seventy degrees down from the high is the low for the year -- so far. Three-hundred and sixty degrees down from this year's high is 1108. That is also interesting because the high of the low-bar month of 2004 is 1109.07. That occurred in August 2004.