May 23, 2013

Short term update

On the smaller time frames the move looks like impulse and we are in wave 4. If this is right than we should see something similar like on the chart bellow. The next support level is 1625.
On the daily chart we have important support level, MA50 and the trend line around 1600. I do not expect SP500 to move bellow this level without serious reaction on the upside.

How the previous reactions looked like....

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