Signals

Short term signal: UP
Intermediate term signal: UP
Comment: the move up does not look finished...at least one more push before anything on the downside. The intermediate term signal turned up but I would wait for a higher low to confirm trend reversal. The move is just testing the break bellow MA20/MA50 on the daily chart and it does not look so strong. One strong hourly candle after the open and no follow trough.

Expected behavior for:
- sell off resumes - sharp move lower should begin
- higher low - weak reaction lower from this levels or higher levels

Levels to watch SP500:
- 1624 the gap - the stop for an intermediate term trade
- 1610 last minor low above that short term signal stays up bellow that down again
- 1598 is now support
------------------------------
Levels to watch Xetra DAX:
- 7920 - is support for the short term move up
- 8040 - is first resistance to the upside
- 8070-8130 - the gap/strong resistance/MA50