Andrew: Yep, the SW is in the up position. The meter responds when the battery is in the wrong configuration.
Oldnick: mine didn't have a plastic ring but I have tried wrapping some black electricians tape around the battery to position it. Still nothing works.
I also found a Spotmatic F manual online and it has the battery plus facing the cap and away from the body, which is opposite to how it is stated in my manual.
I have verified that the meter matches an old Super Pilot meter; the Spotmatic just operates backwards. It indicates "+" when it is underexposed (and the manual states that "+" should be overexpose).
Thanks for the responses.
Olympus XA, Infinity Stylus and 35 SP, Konica Auto S2, Wards am521, Ansco Super Memar, Minolta Hi-Matic E, Minolta XD5, Pentax Spotmatic and KV, Ricoh Diacord L, Mamiya C22, Bronica SQA, mini Crown Graphic, Watson 8x10 and Kodak Vigilant six-20