ShepWave Pre-Market / Intra Day Update for Wednesday Published.
by ShepWave.com
Posted: 12/3/2008 00:23 EST
Tuesday was definitely an interesting trading day. While the up/down quick intra day moves may be baffling to most; don't be intimidimated by them. If you have been reading ShepWave Updates the markets are actually acting as predicted; just doing at a bit of a quicker pace then usually would be expected. But, no new surprises.
Please remember to maintain objectivity in the markets at all times and, while yes, there are definite trend channels to work with be careful of citing an exact price range. Remember the price range will move along with the channel. I mention this because I actually tuned in to a popular TV financial pundit's show the other day and a 'caller' said he was gong to buy when the Dow hit the 7,500 area and sell when the Dow hit the 8,500 area. The TV Pundit seemed to agree with this. This idea of a trading range such as this is false. False under the recent market conditions anyway. While there are definite price ranges they don't work out so easily. One must be using the 'Trend Channels' to base this type of trading; which, by the way has been working out nicely recently.
For the Pre-Market / Intra Day ShepWave Update for Wednesday go to www.shepwave.com
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.
Worried about a depression? How about a 100-year bear market
The link above is an interesting article.
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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| 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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