Jun 20, 2013

Short term update

Short term signal: DOWN
Intermediate term signal: DOWN
Comment: Opening with gap bellow support 1622 and everything was clear. We have second big red candle bellow support/MA50/trend line.... there is no much to discuss

Expected behavior:
- move lower - any move higher should stay bellow 1622.

Levels to watch SP500:
- 1622 bellow that level stay short
- 1600 above that level bounce higher has begun
- 1560-1550 first target

Levels Xetra DAX:
- 7880 - is support and I think it will hold for several days
- 7750 - is next support/trend line/MA200 and I think it is target for this correction
- 8050 - the gap and resistance

UPDATE: the first try to guess the path not successful:)
With gap bellow support 1622 is obviously that the move lower has begun.

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