Jul 4, 2013


Short term signal: UP
Intermediate term signal: UP
Comment: as I have wrote yesterday - I do not see bearish signs and the index is taking a breath right bellow MA20 and MA50 on the daily chart before moving higher breaking above them. The futures are 14-15 points higher and of you trade the cash index... you missed it.

Expected behavior for:
- the move higher is not finished - at least 1-2 strong days to the upside

Levels to watch SP500:
- 1640-1650 61,8%-78,6% retracement(X pink?) the minimum target
- ~1620 is now minor support the breakout - it should not be violated if the move up is not a fake
- 1598 is the next important support
- 1582-1585 support, must hold if the low for the correction is in.
Levels to watch Xetra DAX:
- 7880-7910 - is now support
- 8070-8130 - the gap/strong resistance/MA50

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