Signals

Short term signal: UP - it will turn down bellow 1678
Intermediate term signal: UP - it will turn down bellow 1654
Comment: Clear 5 waves for the advance from 1640 before that do not ask me... that means pullback which should stay above 1660 for the bullish case.
The bearish case is not dead but the price should reverse hard and move fast through support.

Watch price behavior for clues:
- short term top is near and leg down to begin - 2-3 days sharp sell off moving through support levels like hot knife through butter:)
- a rally higher underway - not more than a pullback to around 1660.

Levels to watch SP500:
- 1675-1682 - resistance
- 1645-1655 important area, congestion zone, now it is a support.
- 1627 support level
- 1598 is major support.