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Sylvain Vervoort
Retired electronics engineer
Recent Activity
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Last week I wrote: "Closing the week some 5 points lower. There is still a Fibonacci target at 2622 that most probably will be reached the coming weeks. I believe there is a good chance the index will remain around the current level until the year-end, closing the year with some 25% profit. For now I expect a further move up towards 2622, a Fibonacci target and the R2 pivot resistance of the current month. We may expect some pullback at that point, before possibly moving up to the next Fibonacci target at 2660. Price is far away from the... Continue reading
Posted 2 days ago at Traders' Library Blog
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Last week I wrote: "Closing the week some 6 points higher towards the closest target at 2600. There is one more target not far away at 2660 that most probably will be reached the coming weeks. I believe there is a good chance the index will remain around the current level until the year-end, closing the year with some 25% profit. For now I expect a further move up towards 2600, a Fibonacci target and the R1 pivot resistance of the current month. We may expect some pullback at that point, before possibly moving up to the next Fibonacci target... Continue reading
Posted Nov 11, 2017 at Traders' Library Blog
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Last week I wrote: "The price gap of the previous week is filled within a week. If this is an exhaustion gap then we have one more reason to believe that a reversal can be expected the coming weeks. However, I believe there will be first a minimum higher price toward the last Fibonacci target at 2610. The indicators are still moving with a negative divergence compared to the index price move. Price is far away from the averages reaching the upper side of the volatility channel. Looking at an Elliott wave count, we may be near the end of... Continue reading
Posted Nov 4, 2017 at Traders' Library Blog
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Last week I wrote: "Not the expected correction but, a higher high with a larger gap on Friday. I like to think this is an exhaustion gap. About 50% of the time an exhaustion gap is filled within a week and an exhaustion gap is the last one in the current up or downtrend. Keep that in mind if this gap is filled the coming week. The indicators are still moving with a negative divergence compared to the index price move. Price is far away from the averages and at the upper side of the volatility channel. Looking at an... Continue reading
Posted Oct 28, 2017 at Traders' Library Blog
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Last week I wrote: "As expected the index made a small higher price the past week. You can now see the index moving up while the indicators are moving down, a divergent negative indication. We should expect a correction the coming week. Price is far away from the averages and at the upper side of the volatility channel. Looking at an Elliott wave count, we may be at the end of an impulse wave 5, short, medium and even long term. And of course, there are the gaps I expect to be filled. Closest down targets are at 2510, 2480... Continue reading
Posted Oct 21, 2017 at Traders' Library Blog
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Last week I wrote: "Last week I mentioned: "There is room for higher prices the coming week. Closest price targets from Fibonacci projections are at 2535 and 2550." Both targets were reached. I expect a slightly higher price starting the coming week but, the start of a reversal after that. Both indicators are topping and price is far away from the averages and touching the upper side of the volatility channel. And of course, there are the gaps I expect to be filled. Closest down targets are at 2510, 2480 and 2460. Read my comments on the weekly chart and... Continue reading
Posted Oct 15, 2017 at Traders' Library Blog
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Last week I wrote: "There was no continuation after the down reversal at the end of the previous week. The past week we first saw a flag price pattern completing on Monday and Tuesday, breaking out of this pattern on Wednesday finally closing the week higher on Friday. There is room for higher prices the coming week. Closest price targets from Fibonacci projections are at 2535 and 2550. Possibly, at that point there will be a negative divergence between the Stochastic RSI and the indicator. The index will be closer to the upper side of the volatility band, the upper... Continue reading
Posted Oct 7, 2017 at Traders' Library Blog
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Last week I wrote: "The index went a few points up Monday till Wednesday but, back down Thursday and Friday, closing just a few points higher compared to the week before. The index now reached the 161.8% Fibonacci target projected over the last wave down of the last correction wave. The candle chart is showing a doji, hanging man and evening star pattern, all negative signs. The stochastic oscillator is showing a downward move compared to the upward move in price over the last few days, a negative divergence. The index is back at the R1 pivot resistance , the... Continue reading
Posted Oct 1, 2017 at Traders' Library Blog
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Last week I wrote: "Sorry I could not make comments last week. Two weeks ago I expected the gap around 2460 to be filled and that was the case. On the other hand I saw room for a further move up. This happened the past week with a gap and large move on Monday (9/11) and another gap on Tuesday. Price is now at the R1 pivot resistance, the 161.8% Fibonacci target and the upper side of the volatility channel while, the index is far away from the averages. Note the negative divergences between price with higher tops and the... Continue reading
Posted Sep 23, 2017 at Traders' Library Blog
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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 Sep 16, 2017 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