Want to know more about "Capturing Profit with Technical Analysis"?
Read about my new 6-part S&C series, now part 6 Projecting Market Cycles.
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: "It looks like we have a confirmation for the negative shooting star candle pattern this week. We must expect a further down move for the creation of wave 3.2 down. Wave 3.2 will probably end just below the wave 3.1, finishing a 5-impulse wave down. Minimum target is 1850.".
The week started with a move down coming close to the expected 1850, but missing by a few points to create the wave 3.2 down. The index will possibly correct further back up to the median line of the down moving pitchfork and the 100 week average.
The longer term SVEPRExp expert system is black. 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®