July 23: New comments S&P500
Want to know more about "Capturing Profit with Technical Analysis"?
Twice semi-finalist "Favorite Article" in the S&C 2015 Readers' Choice Award. Thank You!
AXIOM business books awards, bronze medal for my book! Thank You!
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 bit as expected, the index reached a new long term top at exactly the 261.8% Fibonacci target of 2169. I believe there will be a correction now the coming weeks, in first instance to the 50 and 100 weekly simple moving average, a value of around 2030."
Just making a small move the past week, closing a fraction higher just above the 261.8% Fibonacci target. There may be some more consolidation at this 3.13 weekly wave top. However I do expect a turn down, with at least some correction towards in first instance 2080 and a first correction target of 1950 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"
NinjaTrader® charts courtesy of NINJATRADER®