ShepWave Pre-Market / Intra Day Update for Tuesday Published. Dow Industrials Breaks below 7,000, Surprised? Shouldn't Be.
by ShepWave.com
Posted: 3/2/2009 20:17 EST

Good day to take some more profits off the table Monday in some of our mid term positions.  But notice the charts in tonight's update; in particular the S&P 500 Chart.  We could be developing a new trend channel.  A quick bounce would be expected prior to this event.  See potential Bounce Targets in tonight's Update and trading triggers and strategies.

I watched a popular Financial News Channel for a total of about 15 minutes today and am noticing some of the 'pundits' going bearish.  Again, there is no excuse for missing a 50% market move in my opinion.   The fact that we are seeing more bearish, skitttish, and skeptical BULLS we actually may be near a mid term bottom.  Again, see our Fibonacci Extension and Fibonacci Retracement targets.  ShepWave has broken down the recent wave action a bit futher to show a possible subdividing of the current move; new Fibonacci Extension targets for the Short to Mid term have been posted.

Go to www.shepwave.com and Log In for Tuesday's Pre-Market / Intra Day ShepWave Update.

2008 was the 'year of confusion'.  2009 could be the 'year of suffering' for the undisciplined, unobjective investor/trader.  Remember, we can't 'fix' the current economic problem.  While the 'Financial Pundits' are all trying to figure out how to fix the problem our objective is to find the trading range, up or down, and profit from it; taking our piece of the pie.  We as traders/investors can't change the economic situation in this country but there is absolutely no reason not to profit from any market move. 

Click Here to View the ShepWave Published Report from October 11,2007.  When the Dow Industrials Index was still over 14,000.

Click here to read the ShepWave Update from May 26,  The Last week the Dow Industrials Index saw 13,000.

Click here to read the ShepWave Update from August 21 when the Dow was at the 11,400 area.

 

Go to www.shepwave.com for Updates.  Trend Analysis, Elliott Wave Theory, Fibonacci Retracement and Fibonacci Extension Targets, Trade Triggers and Targets shown. QQQQ Trade Signals.

 

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Regular Scheduled Updates Published by Market open on Monday and Thursday.

 Intra Day Updates for QQQQ, DOW,S&P 500 and selected individual stocks most every day.

Our purpose is to not only show potential trade set ups and the management of those trades but to TEACH objective disciplined methods of trading for any time frame.

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