May 21: New comments S&P500
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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.
The used chart template is explained HERE.
Last week I wrote: "As expected further moving down back to the low of the previous week, closing the week lower. I do expect a continuation of the down move the coming week(s). There will be some support from the 50 and 100 week average, but the next down target is 1996, the 61.8% Fibonacci retrace and a previous price support level."
Like I mentioned last week "There will be some support from the 50 and 100 week average..." The low of the week reached exactly the 50 and 100 week moving average. From that point there was a pullback closing the week slightly higher. Like last week I do expect a further move down the coming weeks, be it after some more retracement fisrt.
The longer term SVEPRExp expert system is green. Green means a long position and black a short position for the long term on this weekly chart. You can find more information about SVEPRExp HERE and HERE!
For FOREX traders; here I keep updated FOREX EUR/USD charts.
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