Signals

Short term signal: DOWN - because of histogram divergence on the hourly chart
Intermediate term signal: DOWN - still considered down, decreasing volume to the upside and bars with tails
Comment: the price is testing again MA20 and MA50 and failed again. Intermediate term long signal if we see corective move lower with higher low.

Expected behavior for:
- sell off resumes - sharp move lower should begin
- the move higher is not finished - choppy reaction lower

Levels to watch SP500:
- 1640 61,8% retracement X pink?
- 1624 the gap - 50% retracement X pink?
- 1598 is now support
- 1582-1585 support, must hold if the low is in.
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Levels to watch Xetra DAX:
- 7870-7840 - is support for the short term move down
- 8040 - is first resistance to the upside
- 8070-8130 - the gap/strong resistance/MA50

Short term not exactly as expected but the plan stays the same. The scenario that the low is in is the main one now(in green)... simple we should follow the market and if the conditions change we will switch again.