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: "For me a bit an unexpected higher closing the past week. There is still a valid extended wave E2 and still there is some room to go even higher. For me it would be a big surprise that a long term higher high wave 3.13 is one of the possibilities. I rather still expect a turn down the coming week(s). "
A good thing that I wrote last week: "I rather still expect a turn down the coming week(s)" and not 'week', because the index is closed a fraction higher the past week. We still have a valid extended wave 2 (E2), but there is almost no room left to move higher, because if that happens there will be a new long term higher top wave 3.14. I do not expect that, I rather go for a turn down the coming week. Wait for a confirmation if you think about going short.
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®