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Sylvain Vervoort
Retired electronics engineer
Recent Activity
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In my last comment (August 2019) I wrote: "It was not the end of the up correction. The move up continued most probably finishing a long term top wave {5} some 3 weeks ago. The first reaction from the top wave {5} created a correction wave a (or 1). Followed by some 50% retrace for, most probably a wave b. I assume last week wave c started and, is now making an in-between lower degree abc correction wave. Note that it is not impossible that we may get a wave 2 correction. This would mean that we will get a... Continue reading
Posted Nov 23, 2019 at Traders' Library Blog
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In my last comment (June 8) I wrote: "The index reached the 161.8% Fibonacci down projection and a price support I indicated last week. This was the end of a first zigzag wave-a down. From that point we saw an upward correction wave ending at the R1 pivot resistance of the current month and price resistance at the level of the top of the previous intermediate wave up. If this is the end of the up retrace, there will be a hidden divergence with a lower top in price and a higher top in the indicator. That would confirm a... Continue reading
Posted Aug 17, 2019 at Traders' Library Blog
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A week ago I wrote: "Last week I wrote: The index will possibly close the last gap before continuing the down move for a wave 3." The gap was not closed the past week, I believe this is not a good sign. Furthermore, we had one more gap the end of the week. The index is now below the 100- and 200 day simple moving average so, maybe the last gap will be closed the coming week. I expect a small correction only. Price reached a 161.8% Fibonacci target. Here there will be some price support. Read my updated comments... Continue reading
Posted Jun 8, 2019 at Traders' Library Blog
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A week ago I wrote: Last week I wrote: "Most probably we will see a confirmed convergent move between price and the Stochastic RSI indicator with lower tops in both price and indicator. That will confirm the down move once the up correction is completed." This is what happened last week. Reason why we have to believe in a further move down the coming week(s). I expected the index to go down to a first target at 2820. The low price past week came close to 2800. The index will possibly close the last gap before continuing the down move... Continue reading
Posted Jun 1, 2019 at Traders' Library Blog
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A week ago I wrote: "Last week I wrote I was expecting some more retrace. This happened after a larger black candle on Monday next retracing up to the S1-pivot resistance of the month, also a price resistance. Turning back down on Friday the index possibly finished the wave 2 correction of a lower degree wave, starting the wave 3 down. First down target is around 2820. However if we really started a long term correction, there are a lot of lower prices to be tested. Most probably we will see a confirmed convergent move between price and the Stochastic... Continue reading
Posted May 25, 2019 at Traders' Library Blog
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A week ago I wrote: "There was little change two weeks ago. Just a slightly higher top but, with a bearish engulfing pattern announcing a possible top reversal. The past week the downward move was confirmed and, price went down covering the larger gap we had some 5-weeks ago. Price found support at the low side of the gap and, a classic 50% retrace over the last wave C zigzag pattern. I expect some more up retrace but, most probable a continuation of the down move after this retrace. Read my updated comments for the weekly chart and monthly chart... Continue reading
Posted May 18, 2019 at Traders' Library Blog
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Two weeks ago I wrote: "The smaller gap two weeks ago is closed. The larger gap of about 4 weeks ago is still open. The index is making a longer term double top. Price is still within and touching the top side of the rising wedge pattern. There is resistance from the R2-pivot of the current month and we are at the upper side of the volatility channel. Higher tops in price with lower tops in the SRSI indicator form a negative divergence. Most logical to expect now is, a downward reaction, in first instance breaking the low side of... Continue reading
Posted May 11, 2019 at Traders' Library Blog
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Last week I wrote: "Another small gap on Friday that needs to be closed. The larger gap of the week before is still open. To close this larger gap the index must fall below the lower side of the rising wedge pattern. That would not only close the gap but also confirm the reversal pattern. The upper side of the wedge resistance was reached with a closing price on Friday. Wave (a) and wave (c) now have about the same length. The stochastic RSI is moving down. Best guess is that price will reverse one of these days. Read my... Continue reading
Posted Apr 27, 2019 at Traders' Library Blog
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Last week I wrote: "Wave 3 down did not yet start the past week. The week opened with a large price gap. We can expect this gap to be closed the coming couple of weeks. Price reached the R1-pivot-resistance of the current month. We also can see the index reaching resistance of the upper side of a rising wedge reversal pattern. If we have a reversal now, we most probably complete the wave (2) correction and must expect the start of wave (3) down. This would be confirmed by a negative divergence between price and the Stochastic RSI indicator. The... Continue reading
Posted Apr 13, 2019 at Traders' Library Blog
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Last week I wrote: "A small move only the past week finding resistance at the level of the R1-Pivot of the month of March. My opinion we have a wave 1 and a wave 2 of a smaller degree now completing. I do now expect the start of a wave 3 down. First target is the low side of the volatility channel and the 50-day and 200-day simple moving average. But, the down reversal needs to be confirmed now. Read my updated comments for the weekly chart and monthly chart for more information regarding the longer term view." Wave 3... Continue reading
Posted Apr 6, 2019 at Traders' Library Blog
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Last week I wrote: "The index still went a bit higher but, closed the week lower finding some support from a previous top and the 76.4% Fibonacci retrace. We have medium term higher tops but lower tops in the Stochastic RSI indicator. The SRSI indicator is topping. The next logical step would be a further move down, starting a downward wave 3 or C. The nearest target is the lower side of the volatility band, the PP pivot level of the current month, the 200 day simple moving average and a previous price top. The next targets are the 61.8%... Continue reading
Posted Mar 31, 2019 at Traders' Library Blog
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It seems like I am having access again. I never got any reaction to my mails and now I accidentally noted that it is working again. Let's hope it keeps working... Last week I wrote: "Last week I did expect a reaction but, not making a higher top. The index now reaches the R1 pivot resistance of the current month. It looks like the index is building a negative divergence with a higher top in price but, a lower top in the Stochastic RSI indicator. Furthermore it reached the upper side of the volatility channel. Drawing a Fibonacci retrace over... Continue reading
Posted Mar 23, 2019 at Traders' Library Blog
Posted Nov 30, 2018 at Traders' Library Blog
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Last week I wrote: "Last week I wrote: " Note the negative divergence with a higher top in price but, a lower top in the Stochastic RSI indicator. I assume price will move further down the coming week." Friday the index fell to a low of 2868 finding support at the S1 pivot support, the 50 day simple moving average, the low side of the volatility band and at price support and resistance levels. There is a good chance for an up pullback the coming week but, I expect a continuation of the down move after that. First down target... Continue reading
Posted Oct 13, 2018 at Traders' Library Blog
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Last week I wrote: "One week ago the index reached a higher top, possibly the top of a longer term wave [5]. The past week we see a pullback closing the gap in the last up move. Price moved close, up to the R1 pivot resistance. Note the negative divergence with a higher top in price but, a lower top in the Stochastic RSI indicator. I assume price will move further down the coming week. However, we have to keep in mind that the year-end is coming close and a magical 3000 level is not far away. The reaction may... Continue reading
Posted Oct 6, 2018 at Traders' Library Blog
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A few weeks ago I wrote: "About 3 weeks ago we were looking for the price gap to be closed or not. It was closed the week after. I tried another wave count, impulse waves instead of correction waves. With that count we were at the top of a wave (3) and had to expect a higher wave (5). Arrived at this new wave five top, we have a first reaction down. I assume there will be a smaller wave b correction coming the next week. Read my updated comments here for the weekly chart and monthly chart for more... Continue reading
Posted Sep 29, 2018 at Traders' Library Blog
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I have removed all Google adds. Please let me know if you still would encounter one on any page of the site. Last week I wrote: "The index went some points higher the past week but, closed the week lower with a gap on Friday. Let's see if this gap will be closed the coming week. If not, this could be together with the negative divergence between the index and the stochastic indicator, a good sign that the down move is started. We should expect the start of a down reversal based on the following rules: - Expecting a wave... Continue reading
Posted Sep 8, 2018 at Traders' Library Blog
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Last week I wrote: "The index probably finished a correction wave 2 and, we should expect the start of wave 3 down based on the following rules: - Expecting a wave 3 down. - The index is close to price resistance and the 161.8% Fibonacci target resistance. - Price is at the upper side of the volatility channel. - The stochastic RSI is showing a negative divergence second time in a row. The coming week will be important to watch for the start of wave 3 down or? Read my updated comments here for the weekly chart and monthly chart... Continue reading
Posted Aug 11, 2018 at Traders' Library Blog
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I have removed all Google adds. Please let me know if you still would encounter one on any page of the site. Last week I wrote: "There is a nice negative divergence between the index with a higher top and the stochastic RSI with a lower top. Meaning we can expert a continuation of the medium term down move. This looks confirmed with the end of wave C, also the end of higher order wave (C) and longer term wave [B]. Furthermore with an index current high around 2820 we are very close to the 161.8% Fibonacci target projected over... Continue reading
Posted Jul 28, 2018 at Traders' Library Blog
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Last week I wrote: The gaps at the start of wave A are still not closed. This is a bad sign because, if it is not happening now it may take a long time in the future pointing in the direction of a long term downtrend reaction. The index moved higher with a gap. You should expect this gap to be closed in a couple of weeks. It looks like there is a negative divergence building between the index and the stochastic RSI indicator. A confirmation of the lower top in the SRSI will force a down move. For now... Continue reading
Posted Jul 21, 2018 at Traders' Library Blog
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Last week I wrote: "Note I have removed all Google adds. Please let me know if you still would encounter one on any page of the site. The gaps at the start of wave A are still not closed. This is a bad sign because, if it is not happening now it may take a long time in the future pointing in the direction of a long term downtrend reaction. Last week I mentioned: "We can expect some further correction the coming week(s). Possibly we will see a wave 2 retrace. In that case the index will stay below the... Continue reading
Posted Jul 15, 2018 at Traders' Library Blog
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Last week I wrote: "The gaps at the start of wave A are still not closed. This is a bad sign because, if it is not happening now it may take a long time in the future pointing in the direction of a long term downtrend reaction. The first targets are the 100 average and the price support around the same level, next the 200 average and again more price support existing at that level. Medium term we should expect a wave C down past the low of wave A around 2450. That would complete the C-wave with the same... Continue reading
Posted Jun 30, 2018 at Traders' Library Blog
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06/02 I wrote: "Last week I mentioned that the gap of the week before was not closed but that this could still happen the past week. The gaps at the start of wave A and the start of wave a, are still not closed, not a good sign and, it may take a long time before being closed in the future. The first down target is the 200-day average and the low side of the Bollinger band. The target for the C-wave correction is around 2450, completing a C-wave with the same size as the A-wave, also the 161.8% Fibonacci... Continue reading
Posted Jun 23, 2018 at Traders' Library Blog
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Last week I wrote: "We got as expected the small further up move the past week. The small gap at the start of the a correction wave is not closed yet. Maybe this will still happen the coming week. If this gap is not closed it is not a good sign and it may take a long time before being closed in the future. The first down target is the 200-day average and the low side of the Bollinger band. The target for the C-wave correction is around 2450, completing a C-wave with the same size as the A-wave, also... Continue reading
Posted May 26, 2018 at Traders' Library Blog
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Last week I wrote: "In my last comment I wrote" There may be a small further move up to complete the wave e of the triangle formation. That should be the end of the triangle correction followed by a continuation of the down move." The index moved up to the R1 pivot resistance. It looks like we are still missing a small move up to complete the b-correction wave. Best estimate is a move up to 2750. That will close the first gap that appeared near the start of the a-wave. Moving down from that level, there is a gap... Continue reading
Posted May 20, 2018 at Traders' Library Blog