ShepWave Pre-Market / Intra Day Update for Tuesday Published. Stock Market Technical Analysis. Elliott Wave Theory.
by ShepWave.com
Posted: 11/11/2008 01:07 EST
Pretty amazing that the high for the Day Monday for the DOW was the exact trend line ShepWave has been showing... huh? Actually it is not amazing at all. Remember that we saw a TRADE SIGNAL (albeit short term ) last week which gave us a heads up to the big move from last week's highs.
In tonight's update ShepWave Shows the critical function of 'TIME' in trading. Remember, as objective traders we are always looking for further confirmation of the Trend; regardless of time; short, mid or long term trends included, ShepWave has always tried to teach the concept of time and the number of periods which one should expect to see further confirmation and that if this time period has lapsed without a further signal then a reversal is possible. So, look for confirming reversal signals. This concept is covered in the short term QQQQ chart in tonight's update. Read Notes Closely. TIme to lock in profits; or let positions run?
Are you positioned for a potential 30-40% market move? If you were on the wrong side of the market for the 40+% market move of the markets from the highs set in 2007 you definitely don't want to miss this next move. Time be LONG or SHORT the markets?
ShepWave Provides analysis you won't find ANY Financial Television Pundit giving. Of course 'what were they saying in October 2007?' Just too bad many investors were mislead by bad information.
Go to www.shepwave.com for the Pre-Market / Intra Day Update for Tuesday.
Click the Links below for a Sampling of ShepWave Updates Published over that past year for Mid to Long Term Traders.
Click here to read the ShepWave Update from August 21 when the Dow was at the 11,400 area.
Cllick the link above for an interesting article. So, if retail returns to the 70's will the Stock market? Most financial pundits missed the 40+% stock market move of the past year. They continually say that the market always goes up. ShepWave suggests extreme caution. We have shown some very critical technical 'facts' which have occured recently which could dictate future market action. Don't miss one of the biggest trading/investing(??) opportunities of a life time.
| MARK HULBERT Panic doesn't mean we've hit the bottom |
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Absence of the psychological characteristics of capitulation means we likely haven't seen the low yet. |
ShepWave Note: No Kidding. I always like to read what these 'financial analysts' (and I use the term loosely) were saying when the markets were at their highs. (LOL)
• 18th bank fails: Houston's Franklin Bank (who's next?)
• Jobless rate jumps to 14-year high of 6.5%
For trading strategies, Trade Signals, Triggers, Targets, Charting and Elliott Wave Theory Analysis go to http://www.shepwave.com/
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Stock Market Technical Analysis. Elliott Wave Theory
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| Reference: Shepwave.com is a technical analysis site for the Major U.S. stock indexes. We use Elliott Wave theory along with our proprietary indicators to give analysis for the Dow Industrials, Nadaq 100 and S&P 500 indexes. We specialize in trading the QQQ and DIA. |
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