Sep 23, 2013


Short term signal: UP - it will turn down bellow 1700
Intermediate term signal: UP - it will turn down bellow 1695
Comment: Sell signals were not generated but we are very close. The move lower is looking like an impulse currently in wave 4. Lower lower wave 5 is needed and if we see it the next bounce is sell.

Watch price behavior for clues:
- top is in and leg down has begun - sell off continues and we see technical damages.
- a rally higher underway - not more than a pullback to support 1675-1682 and another move higher.

Levels to watch SP500:
- 1710-1725 - resistance zone from different trend lines
- 1675-1682 - support
- 1627 support level
- 1598 is major support.

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