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October 18: New comments S&P500 & FOREX EUR/USD

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BBS Band Break System trading Sylvain Vervoort


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S&P500 Analysis: -Daily -Weekly -Monthly -Template -Formulas -Real-Time - HOME

S&P500 Technical Analysis

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.

Weekly chart


The used chart template is explained HERE.

Last week I wrote: "The negative divergence between the index and the indicator is confirmed with a large down candle. Be careful, as I mentioned last week, this may be the start of a longer term down move. We are already very close to the 50 week average, target I was expecting in a couple of weeks time. I assume the last wave 2 correction to become invalid and turn into a new wave 1 down. Probably bringing the index in first instance to the low side of the volatility channel. Keep in mind that there will be a pullback during that process. The expert is showing a black candle on this weekly chart."

And as expected, the low price of the week reached the low side of the volatility channel. Correction wave 2 is no longer a valid wave 2 and becomes a new wave 1 down, normally the start of a medium term 123 wave down. After reaching this new low, we have an up pullback to the level of the 50 week average. After the pullback, we must expect a continuation of the down move, first to the 61.8% Fibonacci retracement around 1760. Medium term targets are 1680, 1600 and 1500.

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 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!

Try my BBS Band Break System, Now available with the brand new "BAND INDICATORS" DVD.

For FOREX traders; here I keep updated FOREX EUR/USD charts.

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Index is reached the low side of the volatility channel and is retracing.

We are moving towards a medium term 61.8% retracement. .

There is support at 1760-1680-1600-1500.

Moving down.

Fast Stochastic RSI indicator:
Moving down.

Slow Stochastic RSI indicator:
Moving down.

Moving down.

SVEPRExp expert system:
The long term investor on a weekly basis has an open short position.

S&P 500 weekly chart

NinjaTrader® charts courtesy of NINJATRADER®

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S&P500 Analysis Charts: -Daily -Weekly -Monthly -Template -Formulas -SPY Real Time

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