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.
Moving up toward the upper side of the downward pitchfork.
The downward target at 1267 was reached followed by an up reaction to the 61.8% retracement.
There is support at 1200-1160. There is resistance at 1335-1360-1390.
Indicators are turning up.
Fast Stochastic RSI indicator:
SVE_BBS%b Band Break System %b indicator:
Moving up with a positive divergence.
RSI(28) and Average(8):
Moving up above the average.
Fast PCRI (Put/Call Ratio Indicator):
Will be added later.
Will be added later.
The SVEPRExp expert is green, I have an open long position. History of all closed trades is shown at the bottom of this page.
Sylvain Vervoort http://stocata.org/