ShepWave
ShepWave Update Published. Rally to continue? or are we ready to break March 9th Lows?
by ShepWave.com
Posted: 3/29/2009 19:04 EST
Tonight's ShepWave Update focus on the fact that, while we have seen the expected rally from March lows, we have not broken any critical mid to longer term trend lines. So, will we see a re-test of the March lows soon OR are we in a potential trading range which, while bringing in some short term volatility, could actually take the Indexes to their ideal Elliott Wave Theory upside targets?
Remember, this is just a bear market rally (so far); be careful getting tied in to all the emotion generated by the Television Financial Pundits. A 20% move off the lows does not deny the fact that we are still down over 40% in the indexes from their 2007 highs; in fact the ideal bounce targets haven't even been hit yet; and may not get hit.
Log In at www.shepwave.com for Monday's Regular Scheduled ShepWave Update.
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.
CLICK HERE to see the failure of CNBC representative Cramer to provide a 'good defense' for providing bad/false information and John Stewart 'pushes the knife in a bit further even'. Will this lead to Criminal Action? Probably not. And again. One cannot blame CNBC or any other Financial Pundit for their losses. Remember the Pundits on Television and everywhere for the most part are 'beholden' to their employer and usually only benefit in a Bull Market, therefore are always of the mindset that Stocks Always Go UP. (LOL)
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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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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