Jun 24, 2013


Short term signal: UP
Intermediate term signal: DOWN
Comment: the indexes are short term oversold and such a bounce is not a surprise. The charts are still very negative and it is early for a reversal.

Expected behavior for:
- some kind of a short term bottom - tomorrow should be a green day

Levels to watch SP500:
- 1571 last minor support above that short term signal stays up bellow that down again
- 1622 bellow that level stay short(intermediate term trend)
- 1598-1608 strong resistance, a move higher should not exceed this range
Levels Xetra DAX:
- 7640 - is support level
- 7770-7780 - is now resistance
- 7870 - is the next resistance and the target if the price moves above 7770-7780
- 8070-8130 - the gap/strong resistance/MA50

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