ShepWave Regular Scheduled Update for Monday Published. Is a short to mid term Bottom Coming? See Targets in tonight's ShepWave Update. Bounce targets shown as well.
by ShepWave.com
Posted: 3/8/2009 17:22 EST

The U.S. Equity Indexes are neaing and/or hitting our projected targets given  weeks (months) ago.  Does this mean that we are due for a bounce?  Probably.  But I strongly stress Disciplined Methods in trading any potential bounce and the strict view that any bounce is just that:  A Bear Market Bounce.  We  must keep in mind that we are in a corrective cycle that could remain with us for years to come.  With that being said we should expect rallies to equal possibly 50% Upside Moves.  Strict Long Side Entrance Signals should be adhered to for Cautious Traders.  And, of course, ShepWave will be keeping a close eye on the upside movement for clear signs.  Remember that the bounce from the November lows to the Early January '09 highs didn't go to our ideal retracement targets, but the wave action and trend channels showed clarity in this action.  ShepWave entered some very profitable trades because of this clarity of action.

Once we do get a bounce, which could happen suddenly and forcefully, you will hear the pundits on Television and elsewhere showing signs of relief and misleading investors/traders again into thinking that everything is working out just fine.  They will be quoted as saying "the market 'looks ahead' and has already priced in the bad news, therefore we are headed to 20,000 on the Dow"....things like that.  It is important for the Objective, Disciplined Trader/Investor to stay focused and NOT buy in to the lies posited by most so-caled Pundits.

For Potential Upside BOUNCE targets for once we do hit a short to mid term bottom Log In to ShepWave at www.shepwave.com

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, 2008 The Last week the Dow Industrials Index saw 13,000.

Click here to read the ShepWave Update from August 21, 2008 when the Dow was at the 11,400 area.

If you haven't seen the bit on CNBC shown on the Comedy Show Click the following link:  Click Here for Daily Show  This has to be one of the funniest (and true) things I have watched in a long time.

 

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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.