Sorry for being a bit late, I had no access to my website...
Last week I wrote: "The index is falling below the previous low, the 200 day average and again out of the down moving pitchfork. Not a good sign. We have a confirmed wave 3.2 down (more on my new 123 wave count system HERE) . All indicators are turning down after the up reaction wave 2. First target down is at 1267, but I do expect an up reaction soon".
Reaching a low of 1266.74 on Monday we were coming extremely close to our target of 1267. The candlestick doji, coming close to the S1 pivot support, was confirmed with a higher close on Tuesday, forming a morning doji star. However since it was closing against the resistance of the 200 day average, I waited for closing the short position. Rising above this average on Wednesday and moving up further together with complying most of the STS8 rules, I closed the short position at 1298.2 and opened a new long position at 1303.2. The result is shown in the trading result table below.
Wednesday we had a close Short/Open long signal from the STS8 expert (more info about my STS8 Swing Trading System HERE).
The total closed profit trading the index is 86.1% from the start in March 2009.
We have a 123-wave, wave 3.2 down, now expecting a wave 2 up.
My SVEPRExp expert system turned green, we have an open long position (more about the expert system SVEPRExp HERE.