March 25, 2017: 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: "A small up reaction as expected and most probably a continuation of the down reaction the coming week(s). The bearish harami is not yet confirmed. Short term I expect a move down to the median line of the up moving pitchfork and the low side of the BBS band. "
As expected last week: a move down to the median line of the up moving pitchfork channel and we can say that we have a confirmation of the bearish harami candle pattern at the top with a larger down candle, almost touching the low side of the BBS channel. Short term there will most probably be a minor reaction now. Longer term we must expect a further down move. First longer term target is around 2200.
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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