Aug 21, 2013


Short term signal: DOWN - it will turn up above 1660.
Intermediate term signal: DOWN
Comment: a lot of volatility after the FOMC Minutes down-up-down... it still does not look like a bottom unless the bulls show up tomorrow

Expected behavior for:
- short term bottom - strong green candle in the next day or two.

Levels to watch SP500:
- 1682 is now resistance
- 1650-1660 important area, congestion zone. SP500 should move above it to confirm short term reversal.
- 1598 is major support.

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