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Sylvain Vervoort
Retired electronics engineer
Recent Activity
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Last week I wrote: "Predicting the coming week with the daily chart looks a bit contradictory compared to the weekly chart. Here there is room for a limited further up move. On the other hand there is a nearby gap to fill around 2460. Before that happens there may be another higher high. It may take more than a week before we see another start of a down correction. Read my comments on the weekly chart and monthly chart for more information regarding the longer term view." Sorry I could not make comments last week. Two weeks ago I expected... Continue reading
Posted 4 days ago at Traders' Library Blog
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Last week I wrote: "As expected last week, price went a fraction lower on Monday, touching the 100-day simple moving average dynamic support. Tuesday the up retrace started with a price gap and went up to a 50% pullback, a price resistance and the PP pivot level of the month. Most probably the index made the top of the correction and resumes the down move. The next down target is the S2 pivot support at around 2380. I assume this will take a couple of weeks. Read my comments on the weekly chart and monthly chart for more information regarding... Continue reading
Posted Sep 3, 2017 at Traders' Library Blog
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Last week I wrote: "I expected the price gap to be filled within 2 weeks and, it happened already at the end of the past week. We are also very close to the first down target around 2400. Possibly price will go down a fraction lower before there will be a price pullback. There is support from the S1 pivot support of the month, the median line of the up moving pitchfork and the 100-day simple moving average so, I assume we will see some pullback already the coming week. Read my comments on the weekly chart and monthly chart... Continue reading
Posted Aug 26, 2017 at Traders' Library Blog
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Last week I wrote: "The index came very close to he gap but, is not yet filled yet. I believe the gap will be filled in the coming two weeks with a move further down to the median line of the up moving pitchfork, the 100-day simple moving average and the low side of the Bollinger band. There is a negative divergence with higher tops in the index and lower tops in the indicators. The next down target is around 2400. Read my comments on the weekly chart and monthly chart for more information regarding the longer term view." I... Continue reading
Posted Aug 20, 2017 at Traders' Library Blog
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Last week I wrote: "Not much change, Holidays? I expect the gap at the beginning of the last move up to be filled. We still have an exceptional last engulfing bearish pattern at the top. If this is confirmed the coming week(s) it may be the start of a downward reaction phase. It looks like we have a short term negative divergence with, higher tops in the index and lower tops in the indicators. On the other hand there still is a Fibonacci target at 2534 that we should not exclude because, we see a pennant price pattern, basically a... Continue reading
Posted Aug 12, 2017 at Traders' Library Blog
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Last week I wrote: "Last week I mentioned: "I expect the gap at the beginning of the last move up to be filled." The last gaps were filled with a low price on Thursday while, making a new higher high the same day. We now have an exceptional last engulfing bearish pattern at the top. If this is confirmed the coming week it may be the start of a downward reaction phase. It looks like we have a short term negative divergence with, higher tops in the index and lower tops in the indicators. On the other hand there is... Continue reading
Posted Aug 5, 2017 at Traders' Library Blog
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Last week I wrote: "As expected the index made some more up move the past week. I am convinced that at least a short term reaction is coming up the coming week(s). I expect the gap at the beginning of the last move up to be filled. There is an evening star reversal pattern visible. I assume this will be confirmed the coming week. First down targets are at 2430 and 2400. These targets are given by pivot levels of the current Month, the low side of the longer term up moving pitchfork channel and the 50- and 100-day moving... Continue reading
Posted Jul 29, 2017 at Traders' Library Blog
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Last week I wrote: "Monday there was a reaction up to 2440 but, Thursday the index went down once more to the previous low around 2405. Friday finally another up correction closed the week around the same level as the week before. Possibly the index will correct up a bit more before resuming the down move. The first target down is at 2390 once the support at 2405 is broken. Keep in mind that the Holiday season started so, price moves may be limited the coming weeks. Please read my comments on the weekly chart and monthly chart for more... Continue reading
Posted Jul 22, 2017 at Traders' Library Blog
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Last week I wrote: "Monday there was a reaction up to 2440 but, Thursday the index went down once more to the previous low around 2405. Friday finally another up correction closed the week around the same level as the week before. Possibly the index will correct up a bit more before resuming the down move. The first target down is at 2390 once the support at 2405 is broken. Keep in mind that the Holiday season started so, price moves may be limited the coming weeks. Please read my comments on the weekly chart and monthly chart for more... Continue reading
Posted Jul 15, 2017 at Traders' Library Blog
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Last week I wrote: "The past week shows rather high volatility. Thursday the index reached our expected first down target around 2400. At this level there is support from previous price levels, the 50-day moving average and the 61.8% Fibonacci retrace. That moved the index back up closing the week at 2423. I assume there will be some more pullback moving up the indicators towards their 50 levels but, I expect a further move down the coming two weeks in first instance to 2380. Please read my comments on the weekly chart and monthly chart for more information regarding the... Continue reading
Posted Jul 9, 2017 at Traders' Library Blog
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Last week I wrote: "Monday started with a gap up closing the day with a new higher high. The gap was closed on Wednesday and some recovery on Friday closed the week a fraction higher. I can only repeat: the index reached the nearest 161.8% Fibonacci target coming once more close to the upper side of the up moving pitchfork. There is a negative divergence between the index and both the Stochastic RSI and the price stochastic. We should expect some pullback the coming weeks. This correction may just be a horizontal move. But I think a correction towards 2400... Continue reading
Posted Jul 1, 2017 at Traders' Library Blog
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Last week I wrote: "Technically we can see the index far away from all averages. The index reached the nearest 161.8% Fibonacci target coming close to the upper side of the up moving pitchfork. We should expect some pullback the coming weeks. The correction now may just be a horizontal move. But I think a correction towards 2400 and the 50-day average seems to be the minimum. My advice remains to swing trade short term. Many things are happening in the world these days that may change everything from one day to the other. Do not put everything at risk!... Continue reading
Posted Jun 24, 2017 at Traders' Library Blog
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Last week I wrote: "Last week I mentioned: "Technically we can see the index far away from all averages. The index reaches the nearest 161.8% Fibonacci target coming close to the upper side of the up moving pitchfork. We may expect some pullback the coming week." We got a pullback towards 2415 and closed at 2431. For the coming week I expect a further reaction down in first instance towards 2400 and medium term possibly 2200. My advice remains to swing trade short term. Many things are happening in the world these days that may change everything from one day... Continue reading
Posted Jun 18, 2017 at Traders' Library Blog
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Last week I wrote: "June 1 and 2 we are reaching new tops. Long term the index is still in an up move nicely following the median line of the long term pitchfork. Still I advice to be careful, the market is I believe not stable. With the new US president anything may change the market from one day to the other. Try to swing trade the shorter term. Technically we can see the index far away from all averages. The index reaches the nearest 161.8% Fibonacci target coming close to the upper side of the up moving pitchfork. We... Continue reading
Posted Jun 10, 2017 at Traders' Library Blog
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Last week I wrote: "Last week I mentioned: "The target for the coming week is closing the gap around 2380, possibly down to the PP pivot of the current month and the 50-day simple moving average." Tuesday the market closed a fraction higher, creating a new top. However, Wednesday the gap was closed and the index even went down a bit further closing one more gap in this daily chart reaching the low side of the volatility channel. From that point there was a pullback to the upper side. The larger move down on Wednesday created another gap in the... Continue reading
Posted Jun 4, 2017 at Traders' Library Blog
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Last week I wrote: "Last week I mentioned: "The target for the coming week is closing the gap around 2380, possibly down to the PP pivot of the current month and the 50-day simple moving average." Tuesday the market closed a fraction higher, creating a new top. However, Wednesday the gap was closed and the index even went down a bit further closing one more gap in this daily chart reaching the low side of the volatility channel. From that point there was a pullback to the upper side. The larger move down on Wednesday created another gap in the... Continue reading
Posted May 28, 2017 at Traders' Library Blog
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Last week I wrote: "Le pen did not make it as the new President of France. I mentioned last week: "Technically I would expect that gaps will be filled with a downward move the coming week(s). The new downward target is now at 2317, close to the last bottom, the low side of the volatility band and the 50% retrace." It looks like we started this expected move the past week. The target for the coming week is closing the gap around 2380, possibly down to the PP pivot of the current month and the 50-day simple moving average. Please... Continue reading
Posted May 21, 2017 at Traders' Library Blog
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Last week I wrote: "Last week I wrote: " The up move the past week was clearly a reaction to the result of the first round French Presidential elections. I advice to close or cover long positions because, Marine Le pen winning unexpectedly the election next week Sunday, may send a big shock through the markets! Worse than the Brexit!" Now almost everybody is convinced that Le Pen cannot win the French presidential elections tomorrow. It looks like the big black cloud over the markets is gone. Nevertheless I hope you are out of the market for the moment because,... Continue reading
Posted May 14, 2017 at Traders' Library Blog
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Last week I wrote: "After the first round French presidential elections it looks like most people believe Marine Le Pen will not win the second round to become the new French president. But remember few believed that the English would vote for a Brexit. The up move the past week was clearly a reaction to the result of the first round French Presidential elections. I advice to close or cover long positions because, Marine Le pen winning unexpectedly the election next week Sunday, may send a big shock through the markets! Worse than the Brexit! Business will not be as... Continue reading
Posted May 6, 2017 at Traders' Library Blog
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Last week I wrote: "It looks like we are completing a convergent move with lower index tops and a lower Stochastic RSI top. This means that the pullback of the past week is rather a correction and that the down move will continue now. The index reached the resistance of the PP pivot level of the month, the 50-day moving average resistance and previous price support and resistance. Ready to turn down continuing the down move. The first target remains as mentioned already a couple of weeks ago 2300. This is below the last low with the size of the... Continue reading
Posted Apr 29, 2017 at Traders' Library Blog
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Last week I wrote: "In my last week comment I wrote: "Now we see a divergent move with lower tops in the index and higher tops in the Stochastic RSI. This points in the direction of a further down move below the previous low. The second zigzag down target for the coming couple of weeks is around 2300. This is the size of the first zigzag down from the top of the past week (the red arrow line down) and the 61.8% Fibonacci retrace of the last wave up." The further down move is confirmed, now reaching a low of... Continue reading
Posted Apr 23, 2017 at Traders' Library Blog
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Last week I wrote: "Most probably the intermediate up moving correction wave after the first zigzag has finished on Wednesday and the second zigzag down of the double down zigzag has started. Basically we should see a confirmation at the beginning of the week. The first zigzag made a convergent move with lower index prices and lower tops in the Stochastic RSI. So, I expected the up move after the first zigzag to be a correction wave only. Now we see a divergent move with lower tops in the index and higher tops in the Stochastic RSI. This points in... Continue reading
Posted Apr 15, 2017 at Traders' Library Blog
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Last week I wrote: "Last week I mentioned: "I expect a pullback to the upper side of the BBS band before the start of a second zigzag correction down." Monday started with a move down to the low side of the volatility band and the 50% retrace of the of the last wave up. Ending the week as expected against the resistance of the BBS band. This is a 50% pullback of the downward zigzag. There is now a fair chance that the index starts a second zigzag down. The down target for this is the 100 day average and... Continue reading
Posted Apr 8, 2017 at Traders' Library Blog
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Last week I wrote: "As I expected with my last week comment, a down move, most probably ending a first downward zigzag correction pattern reaching the low side of the BBS band and support of the 38.2% Fibonacci retrace and the PP pivot level of the current month. Next week I expect a pullback to the upper side of the BBS band before the start of a second zigzag correction down. The next down target will be the 61.8% Fibonacci retrace around 2300. Please read my comments on the weekly chart and monthly chart for more comments regarding the longer... Continue reading
Posted Apr 1, 2017 at Traders' Library Blog
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Last week I wrote: "As expected a further short term up reaction to the upper side of the BBS band. This is probably the end of this reaction and we may expect a further down move the coming week(s). The move down has a number of targets; the low side of the BBS band and at the same level previous price support, the PP pivot level of the month, and also the 38.2% Fibonacci retrace over the last wave up. At that point we can expect another correction before moving down to the next target, the 50% retrace and at... Continue reading
Posted Mar 26, 2017 at Traders' Library Blog