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Sylvain Vervoort
Retired electronics engineer
Recent Activity
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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 3 days ago 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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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