Oct 17, 2013


Short term signal: UP - it will turn down bellow 1714
Intermediate term signal: UP - it will turn down bellow 1696
Comment: Nothing new, we stay bullish. SP500 almost reached the upper wedge line. For the bearish scenario the index should start topping and reverse in the next 2-3 days.
P.S SP500 is making new highs, but DJIA and DAX are a few points in the red... they have printed nice dragon fly candles. In the next day or two we will know if this is important.

Watch price behavior for clues:
- bearish scenario - toping in the next days and move bellow 1695.
- move higher - any pullback should stay above 1695.

Levels to watch SP500:
- 1740 - resistance
- 1710 - support
- 1670-1680 - support level
- 1627 - support level

SP500 10 min chart with trend line fan... showing the chart just like that I find it interesting:) according to the rule when the third trend line is broken the move has reversed.... we are not there yet.

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