Traders' Library Blog

Stocata S&P 500 Analysis: April 28, 2018.

Last week I wrote: "The 'b' wave correction went up to the 61.8% Fibonacci retrace (grey) over the a-wave down, the upper side of the Bollinger band and the 100-day average. I assume this will be the end of the b-wave up correction. The expert colored the candles green but, I would not open a long position because, I think the b-wave is complete and we should expect a continuation of the downtrend to targets 2550 and 2400 completing the C-wave. These targets are respectively the S1 and S2 support levels of the current month, confirmed by a downward 161.8% Fibonacci projection (red) over the 'b' correction wave. Furthermore, the b-wave correction is additionally confirmed by a hidden divergence with, a lower price and a higher Stochastic RSI indicator. Read my updated comments here for the weekly chart and monthly chart  for more information regarding the longer term view."

Closing the past week at the same level as the week before. There is a fair chance a short term impulse wave down is started now completing correction wave 2. Meaning I am expecting impulse wave 3 down with a target at 2550. I assume this impulse wave will end at 2450 to complete the C-correction wave. Price is now at resistance from the PP-pivot level of the month and previous price resistance levels. Read my updated comments here for the weekly chart and monthly chart  for more information regarding the longer term view.

Sylvain Vervoort  http://stocata.org/

Stocata S&P 500 Analysis: April 21, 2018.

Last week I wrote: "The past week made another pullback to the PP-pivot level of the month. This level is also the 50% retrace over the last wave 'a' down. My feeling is that the up correction will probably go up a fraction higher to the 61.8% Fibonacci retrace or even more if the current wave is a wave '2' and not a wave 'b'. The funny thing is that if the 61.8% retrace is reached and we make a Fibonacci projection down over the 'b' wave that moment in time, the 161.8% target is exactly the S2-pivot target level. I am still expecting this 2450 level as the next low target. Read my updated comments here for the weekly chart and monthly chart  for more information regarding the longer term view."

The 'b' wave correction went up to the 61.8% Fibonacci retrace (grey) over the a-wave down, the upper side of the Bollinger band and the 100-day average. I assume this will be the end of the b-wave up correction. The expert colored the candles green but, I would not open a long position because, I think the b-wave is complete and we should expect a continuation of the downtrend to targets 2550 and 2400 completing the C-wave. These targets are respectively the S1 and S2 support levels of the current month, confirmed by a downward 161.8% Fibonacci projection (red) over the 'b' correction wave. Furthermore, the b-wave correction is additionally confirmed by a hidden divergence with, a lower price and a higher Stochastic RSI indicator. Read my updated comments here for the weekly chart and monthly chart  for more information regarding the longer term view.

Sylvain Vervoort  http://stocata.org/

Stocata S&P 500 Analysis: April 14, 2018.

Last week I wrote: "The low past week reached exactly the 161.8% Fibonacci target. Last week I mentioned: "I assume that this consolidation phase and pullback is not yet finished. I expect a correction up to previous price support once more becoming price resistance." From the low of the week, there was an up correction to a previous price high and, the PP pivot level of the month. There is a convergent move between the index and the SRSI indicator. This usually means that the last up move is just a correction and that the down move will continue after the correction. It looks like Friday the downtrend resumed. Nearby targets are at 2550 and 2450. Read my updated comments here for the weekly chart and monthly chart  for more information regarding the longer term view."

The past week made another pullback to the PP-pivot level of the month. This level is also the 50% retrace over the last wave 'a' down. My feeling is that the up correction will probably go up a fraction higher to the 61.8% Fibonacci retrace or even more if the current wave is a wave '2' and not a wave 'b'. The funny thing is that if the 61.8% retrace is reached and we make a Fibonacci projection down over the 'b' wave that moment in time, the 161.8% target is exactly the S2-pivot target level. I am still expecting this 2450 level as the next low target. Read my updated comments here for the weekly chart and monthly chart  for more information regarding the longer term view.

Sylvain Vervoort  http://stocata.org/

Stocata S&P 500 Analysis: April 7, 2018.

Last week I wrote: "Last week I predicted a pullback writing: "A lower bottom both in price and the SRSI confirms a possible pullback the coming week. Also, the possible higher bottom with the low of wave A and lower bottom in the SRSI is a hidden divergence also confirming that a pullback should be expected." I assume that this consolidation phase and pullback is not yet finished. I expect a correction up to previous price support once more becoming price resistance. This is the level around 2700. However since we do not have a wave C already we must expect a further down move after this correction phase. The first down target is around 2450. Read my updated comments here for the weekly chart and monthly chart  for more information regarding the longer term view."

The low past week reached exactly the 161.8% Fibonacci target. Last week I mentioned: "I assume that this consolidation phase and pullback is not yet finished. I expect a correction up to previous price support once more becoming price resistance." From the low of the week, there was an up correction to a previous price high and, the PP pivot level of the month. There is a convergent move between the index and the SRSI indicator. This usually means that the last up move is just a correction and that the down move will continue after the correction. It looks like Friday the downtrend resumed. Nearby targets are at 2550 and 2450. Read my updated comments here for the weekly chart and monthly chart  for more information regarding the longer term view.

Sylvain Vervoort  http://stocata.org/

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