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.
Pitchfork:
Moving up toward the upper side of the downward pitchfork.
Fibonacci:
The downward target at 1267 was reached followed by an up reaction to the 61.8% retracement.
Trailing noise:
Moving up.
Support/Resistance:
There is support at 1200-1160. There is resistance at 1335-1360-1390.
Indicators:
Indicators are turning up.
Fast Stochastic RSI indicator:
Moving up.
Slow Stochastic:
Turning up.
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.
Slow PCRI:
Will be added later.
SVEPRExp Expert:
The SVEPRExp expert is green, I have an open long position. History of all closed trades is shown at the bottom of this page.
HOURLY Chart:
Sylvain Vervoort http://stocata.org/
Comments