Jun 13, 2013

Short term update

Short term signal: UP
Intermediate term signal: UP
Comment: a lot of volatility - strong push lower, the futures with huge gap to the previous low. I was thinking already that am completely wrong and I am really too bullish... at the end we have the expected bottom and a huge green bar. Nothing changed, the plan stays the same. Next target should be 1660.

Expected behavior(see the daily chart from weekly review):
- green scenario retest of the high - I expect A-B-C higher. This should be A (not finished), a B wave should stay above 1622 and C to 1660.

Levels SP500:
- support - 1622 should hold
- resistance 1640-1647

Levels Xetra DAX:
- resistance 8150-8160
- support 8050

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