Signals

Short term signal: UP - it will turn down bellow 1678
Intermediate term signal: UP - it will turn down bellow 1654
Comment: No change - clear 5 waves for the advance from 1640 that means pullback, which should stay above 1660 for the bullish case.

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.
- 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.