Aug 14, 2013


Short term signal: NEUTRAL
Intermediate term signal: UP as long the price stays above 1682
Comment: No follow through, the bulls failed to push higher. The prices stay trapped in the range... in no man`s land.

Expected behavior for:
- I do not know what to expect....

Levels to watch SP500:
- 1700 minor resistance to the upside. If the price moves above it we will have double bottom with target ~1720.
- 1682 is now support. If the price moves bellow it the intermediate term direction will turn down.
- 1650-1660 important support, the pullback should not move bellow this area, or this is more than a pullback.
- 1598 is major support.

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