Dec 1, 2013


Short term signal: UP - it will turn down bellow 1800
Intermediate term signal: UP - it will turn down bellow 1795
Comment: It is time to start posting the signals again. They were up till now, nothing worth mentioning, but after the targets has been reached and the divergences all over the place it is time to be cautious. Look at the hourly,daily and weekly chart from the weekly review - MACD double divergence on all time frames.... I do not know what do you think but in my opinion it is time to step aside(start taking profits).
The charts look to me like they hit some kind of a top or it will be on Tuesday which is heavy POMO day(see the hourly chart bellow).

Watch price behavior for clues:
- intermediate term top - at least two consecutive down days of strong selling breaking bellow 1775.
- bullish moves continue higher - any pullback should stay above 1775.

Levels to watch SP500:
- 1745 - minor support
- 1715-1730 - important support

The wedges are everywhere the hourly chart, the daily chart. The buyers are eager to buy as soon as possible not letting even a small pullback to play out. Too much greed..... MACD double divergences on all time frames,wedges... I will dare to say expect a top next week:)

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