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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: "Out of the (smaller) trading range. Not a move down but a new higher high with a top wave 3.11 in this weekly chart. I do expect a down reaction the coming week towards the median line of the up moving pitchfork. If that is the case, it looks like the index moves inside a larger longer term trading range. "
Not even a further move within the larger trading range, but directly a new top wave. Only the sky is the limit! We are very close to the longer term Fibonacci target at 2114. Will it stop there? At least we must expect a reaction the coming week(s).
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.
Learn technical analysis with: "Capturing Profit with technical Analysis"
The index moves towards the upper line of the up moving pitchfork.
There is support at 2000-1920-1820, resistance at 2114.
Moving down with a convergence.
Fast Stochastic RSI indicator:
Moving up with a convergence.
Moving down with a negative divergence.
SVEPRExp expert system:
The long term investor on a weekly basis has an open long position.
NinjaTrader® charts courtesy of NINJATRADER®