Short term update

Short term signal: DOWN
Intermediate term signal: NEUTRAL
Comment: whipsaws all the time in the last two weeks so I do not trade the signals, I trade short term weakness or strength. That is all you can do. For example DAX was weak, I was short and took small gain today.
UPDATE: now I looked better and we have bearish candle with low bellow the previous two days low and bellow MA20. There is probability that the move higher is over with Y finished (see the chart bellow). If you see weak bounce higher which can not manage to close above MA20 on the daily chart and MA50 on the hourly chart that will be nice short entry.

Expected behavior(see the daily chart from weekly review):
- the move on the upside is not over - the price should stay above 1620. Move to support and rally from it.
- the move is over another big red candle lower moving bellow 1620

Levels to watch SP500:
- 1622 should hold
- 1660 is possible target

The picture on the DAX looks a little bit more clear and it suggests one more wave up.
Levels Xetra DAX:
- 8080-8100 - next support, 8150-8160 support was tested twice today but I am not sure that it will hold
- 8240 resistance


As I have wrote yesterday buy signal but would rather take profits. The whole move is very weak and choppy but I think it is still not over.