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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: "Some retracement but a new higher top wave 3.10 the week before and still a bit higher last week. All together a very limited move. It looks like the index will stay at a high level at least until the end of the year."
Once more a higher wave 3.10. 2114 is a longer term Fibonacci target. The index will probably reach that level. As I wrote last week: I expect a tight trading range until the end of the year.
If you have doubt about BBS, have you noticed that the BBS Band Break System used on the weekly chart, took a long trade August 17 2012 at 1418.16 and with a closing at 2010.4 on September 19, 2014, there was a profit of 592.24 or 41.7%.
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 moved back up to the median line of the pitchfork.
There is support at 1920-1820-1760.
Fast Stochastic RSI indicator:
Slow Stochastic RSI indicator:
SVEPRExp expert system:
The long term investor on a weekly basis has an open long position.
NinjaTrader® charts courtesy of NINJATRADER®