Nov 19, 2013


Short term signal: UP - it will turn down bellow 1783
Intermediate term signal: UP - it will turn down bellow 1760
Comment: Short term picture develops as expected. The move lower looks corrective, so expect another ATH. It is time to be careful - taking some profits after a new ATH and tightening the stops is not a bad idea.

Watch price behavior for clues:
- bearish scenario intermediate term top - we should see the price moving fast lower and breaking bellow last minor low 1746
- bullish moves continue higher - any pullback should stay above 1775

Levels to watch SP500:
- 1730 - minor support
- 1700-1710 - important support level

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