Oct 2, 2013


Short term signal: DOWN - it will turn up above 1693
Intermediate term signal: DOWN - it will turn up above 1696
Comment: The patern looks like a triangle for now and the "short term bottom" could be just a sideway move. Nevertheless that confirms the idea, that is early to get bullish.

Watch price behavior for clues:
- top is in and leg down has begun - sell off continues and we see technical damages - move bellow 1670.
- a rally higher underway - not more than a pullback to support 1675-1682 and another move higher.

Levels to watch SP500:
- 1710 - resistance
- 1675-1682 - support level
- 1627 - support level
- 1598 - is major support.

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