This is Sylvain Vervoort's Typepad Profile.
Join Typepad and start following Sylvain Vervoort's activity
Join Now!
Already a member? Sign In
Sylvain Vervoort
Retired electronics engineer
Recent Activity
Image
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 yesterday at Traders' Library Blog
Image
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
Image
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
Image
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
Image
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
Image
Last week I wrote: "It was some time ago that we closed a week with a lower index. The bearish harami pattern at the top is now confirmed with a move down, reaching the low side of the BBS band, creating a small up reaction already. I expect there will be some more up reaction but, I expect a further down move after that. On the other hand I still cannot exclude a new higher top. The hidden divergence between the index with higher bottoms and the indicators with lower bottoms, confirm a correction, but may also push price above... Continue reading
Posted Mar 18, 2017 at Traders' Library Blog
Image
Last week I wrote: "Closing the week higher with a gap on Wednesday but, starting a reaction on Thursday after reaching a 161.8% Fibonacci target and, the resistance of the R1 pivot of the current month. Price is still at the upper side of the volatility channel and the BBS band. The indicators turned down. Price is far away from the averages. I expect the gap to be closed the coming week and possibly a further reaction down towards the PP pivot of the month. Please read my comments on the weekly chart and monthly chart for more comments regarding... Continue reading
Posted Mar 11, 2017 at Traders' Library Blog
Image
Last week I wrote: "As expected, more or less some 15 points up move the past week. A longer term Fibonacci projection now reaches exactly the 261.8% target. With the convergent move between the index and the stochastic RSI, we must expect in the first place a (smaller) correction related to the last wave up. This reaction will be in the order of 60 index points. The index is now at the upper side of the pitchfork channel and the stochastic RSI is topping. The index is also far away from the averages. Possibly the reaction starts the coming week.... Continue reading
Posted Mar 5, 2017 at Traders' Library Blog
Image
Last week I wrote: "A bit as expected, closing the week higher, reaching the last current Fibonacci target and the upper side of the up moving pitchfork. As I mentioned last week, we lost the negative divergence and we now have a convergent move between the SRSI indicator and the index. Basically this means we should now expect a short term reaction for the last wave up and not yet a longer term reaction. I estimate that a reaction of some 60 points can be expected, maybe after a further small move up. Please read my comments on the weekly... Continue reading
Posted Feb 25, 2017 at Traders' Library Blog
Image
Last week I wrote: "Closing the week some one percent higher. If the index turns down now, we have another negative divergence between the index with higher tops and the Stochastic RSI indicator with lower tops. On the other hand there seems to be room for at least another 20 points up move. If that happens the negative divergence will disappear. I see different Fibonacci targets, some point to the current level and some go about 20 points higher. It looks like we have to follow up, waiting for a long term reversal. Please read my comments on the weekly... Continue reading
Posted Feb 19, 2017 at Traders' Library Blog
Image
Last week I wrote: "There was a gap down on Monday and a gap up on Friday. The result, the week is closing just a fraction higher. Price is at the top of the BBS band and reaches a Fibonacci target. Additionally we should expect resistance from the R1 pivot of the month. What to expect next week? Looking at the monthly and weekly chart I would say probably the start of the move down however, on this daily chart this is not very clear. We have to follow up. Please read my comments on the weekly chart and monthly... Continue reading
Posted Feb 11, 2017 at Traders' Library Blog
Image
Last week I wrote: "Wednesday there was a gap up breaking the resistance of the R1 pivot level of the month, creating another higher high. I keep believing we are at a long term top. Price is near the top of the volatility channel. The last tops and bottoms are a convergent move between the index and the indicators. This is mostly the case when you are looking at a correction move, which is not the case here, or is it perhaps that exaggerated? I expect a closure of the gap the coming week. Price is far away from all... Continue reading
Posted Feb 5, 2017 at Traders' Library Blog
Image
Last week I wrote: "We got a nice copy of the week before, be it with one less trading day. Very small moves and again a slightly lower closing of the week. The index remains at the Fibonacci target, trying to get past the R1 pivot of the month. There is no clear sign where the index is going to be next week. My best guess is that we are at a long term top, even if the index would close a bit higher, long term we should expect at least a larger correction. I prefer to be short, be... Continue reading
Posted Jan 28, 2017 at Traders' Library Blog
Image
Last week I wrote: "Very limited moves the past week and closing only a few points lower. The index remains at the Fibonacci target, fighting the resistance of the R1 pivot of the month. The index is also at the upper side of the BBS band and the volatility channel. There may be a double top, but it has to be confirmed. It looks like there is a negative divergence coming up with a higher index top and a lower indicator top. We are more or less at the same point as last week. I am waiting for a first... Continue reading
Posted Jan 22, 2017 at Traders' Library Blog
Image
Last week I wrote: "A new higher top, to celebrate the start of 2017? On this daily chart the index reaches the R1 pivot resistance for the Month of January. A bull-trap or a further continuation of the up move? I still expect a down reaction, only hard to see if it will happen the coming week. It looks like the index and the SRSI indicator will form a negative divergence, probably the coming week. But again, no guarantee! My best guess is a move down toward 2200 the coming weeks. However, if the index is not turning down the... Continue reading
Posted Jan 15, 2017 at Traders' Library Blog
Image
Last week I wrote: "The last week of 2016 started a reaction down, most probably confirming the doji reversal signal in the weekly chart. The index is falling back to the median line of the up moving pitchfork from the top of the volatility channel. The indicators are moving down. I expect there will be a further down move the coming weeks. First target is around 2200, a price support level, the low side of the volatility channel and back to the averages. You should read my comments on the weekly chart and monthly chart for the longer term view."... Continue reading
Posted Jan 7, 2017 at Traders' Library Blog
Image
Two weeks ago I wrote: "Last week I wrote: "The next closest target for the coming week is a Fibonacci projection around 2272." There was a very small reaction on Monday but, Tuesday the index reached the target at 2272. Once this point was reached, a reaction started in first instance to the support of the R1 pivot level of the month. Indicators are turning down and there is a negative divergence between the index and the stochastic RSI. With the doji now in the weekly chart we have one more indication that a down reversal may be started. We... Continue reading
Posted Jan 1, 2017 at Traders' Library Blog
Image
A week ago I wrote: "I am clearly forgetting that we are coming very close to the end of 2016. Usually prices stay high because fund managers want to close the year with a good report. Meaning no down reaction for the moment. Contrary we should expect more higher prices the next couple of weeks. The next closest target for the coming week is a Fibonacci projection around 2272. I do expect a small reaction first. We will probably see higher prices until the end-of-the-year. However, medium term I still expect a larger correction, be careful! You should read my... Continue reading
Posted Dec 18, 2016 at Traders' Library Blog
Image
A week ago I wrote: "As expected, the short term reaction started the past week. For the coming week(s) I expect a further reaction down toward following targets: the PP pivot level of the current month, the 50 and 100 simple moving average and previous price support around 2155. Possibly this will be a small 123 correction wave. You should read my comments on the weekly chart and monthly chart for the longer term view." I am clearly forgetting that we are coming very close to the end of 2016. Usually prices stay high because fund managers want to close... Continue reading
Posted Dec 11, 2016 at Traders' Library Blog
Image
A week ago I wrote: "We have a new long term top with wave 3.14 in the weekly chart. In the daily chart we reach the upper side of the volatility channel. We should expect some retracement. However, we can expect a higher top after a short term correction in the daily chart. The next up target is around 2350. A correction now will probably move towards the 50 and 100 average and price support around 2155. On the other hand we are close to long term targets so, we must be prepared for a long term correction. Read my... Continue reading
Posted Dec 3, 2016 at Traders' Library Blog
Image
A week ago I wrote: "Last week, I expected a pullback, but the market closed a bit higher and reached the resistance of the R2 pivot point of the month. This is also a Fibonacci target. I see a convergent move between the index and the SVESRSI indicator. Mostly this means that the last move is a correction and that the price will continue the previous move down. First targets are the R1 (2160) and PP pivot (2140) levels. Personally I am still avoiding longer term long positions. Read my comments on the weekly chart and monthly chart for my... Continue reading
Posted Nov 27, 2016 at Traders' Library Blog
Image
A week ago I wrote: "As I wrote last week: "In normal circumstances, I would expect some retracement now. However, with the Presidential Elections on Tuesday, it is very unpredictable. We must expect a very volatile market." What would happen in normal circumstances came with some exaggerated retracement after a political historical fact, probably nobody was expecting. The same with the volatile market, it only lasted a few hours. I think next week there will be a pullback down, probably to the level of the PP pivot of the month. Looking more than one week ahead is my opinion not... Continue reading
Posted Nov 19, 2016 at Traders' Library Blog
Image
A week ago I wrote: "Last week I mentioned: "From a purely technical analysis point of view, I rather expect the index to break the support moving further down. There is certainly much resistance for a move up." Moreover, yes, as expected, all days of the week were negative, closing the week at 2085. The index now reaches the S2 pivot support of the month, the low side of the volatility channel, the low side of a new down moving pitchfork and a Fibonacci target. In normal circumstances, I would expect some retracement now. However, with the Presidential Elections on... Continue reading
Posted Nov 12, 2016 at Traders' Library Blog
Image
A week ago I wrote: "Last week I mentioned: " The index finds now resistance from previous price levels, the 76.4% Fibonacci retrace, and the 100-day average. This resistance is probably enough to stop the up correction, and we may expect a further move down, in the first instance to the last low around 2115." The index came close to this level on Friday, but could not break the support at this level. The index may stay within the smaller trading range the coming week, waiting for the Presidential Elections. From a purely technical analysis point of view, I rather... Continue reading
Posted Nov 5, 2016 at Traders' Library Blog
Image
A week ago I wrote: "Last week I mentioned: " At this level, there is price support, support from the low side of the volatility channel, the low side of the up moving pitchfork and the 61.8% Fibonacci retrace level. This support may create some up retrace the coming week." That is what happened and the week is closing higher. The index finds now resistance from previous price levels, the 76.4% Fibonacci retrace, and the 100-day average. This resistance is probably enough to stop the up correction, and we may expect a further move down, in the first instance to... Continue reading
Posted Oct 29, 2016 at Traders' Library Blog