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April 22, 2017: New comments S&P500

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S&P500 Analysis: -Daily -Weekly -Monthly -Template -Formulas -Real-Time - HOME

S&P500 Technical Analysis

Please look at all charts, monthly, weekly and daily before making your own conclusion. You can find HERE a description of the chart template used.

Monthly chart

04/01/2017:

This text will generally only be adapted once every month. The chart is updated until 04/21/2017. The chart template is explained HERE.

Last month I wrote: "February is closing higher. The ending wedge pattern is still there but, we crossed the median line of the up moving pitchfork. On the other hand the index comes close to the upper side of the volatility channel. The stochastic RSI is still topping and price remains far away from all averages. Since we can still see a convergent move between the index and the indicators, I doubt if the longer term down reaction will start the coming month already. My opinion, the chance to move still higher the coming month of March has a better chance. The last long term up move started some 8 years ago. Some month the long term reaction will start and bring the index down possibly to a 50% retrace of this long term up move! Buying at current high levels may therefore be very risky. You must be prepared to get out with an acceptable loss don't, wait too long..."

March closes at almost the same level as February. As a result, not much has changed. However in the daily and weekly chart we have first signs of a reversal. This reversal may be limited but, it may as well be a long term reversal. For the month of April I can repeat most of the comments of February. The ending wedge pattern is still there. The index is close to the upper side of the volatility channel. The stochastic RSI is still topping and price remains far away from all averages. The last long term up move started some 8 years ago. Some month the long term reaction will start and bring the index down possibly to a 50% retrace of this long term up move! Buying at current high levels may therefore be very risky. You must be prepared to get out with an acceptable loss don't, wait too long..."

The long term SVEPRExp Price Range expert system is white. Black means a short position and white a long position. HERE and HERE is more information about the SVEPRExp system!

For FOREX traders, here I keep FOREX EUR/USD updated charts.

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Risk Disclosure: Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.

Hypothetical Performance Disclosure: Hypothetical performance results have many inherent limitations, some of which are described below. no representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.

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