ShepWave Regular Scheduled Update for Thursday Published. Indexes headed for new recent highs? OR New multi year lows? Investors who are still 'looking' for new all time highs be careful.
by ShepWave.com
Posted: 4/8/2009 21:25 EST

We saw the recent high in the U.S. Indexes last Thursday.  It was on that day that we saw the indexes Gap Up at the open.  While we 'had' the potential for an Island Reversal it has now passed the unofficial deadline (in my opinion) for this pattern to pan out.  The Regular Scheduled Update for Thursday shows some key indicators as presented by the technicals in the VIX (Volatility Index for NYSE) and the weekly view of the S&P 500 Index. 

Is the fact that the U.S. Equity Indexes are not having immediate follow through this week to the double break of the key down trend line from Elliott Wave Theory Waves 2 through 5 of the downtrend from the key all time high an indication that we are back in 'Bear Mode' and are eventually headed to new multi year lows?  OR are the indexes just taking a breather and are indeed still in an immediate mid term (Next few weeks) Up Trend and will hit the ideal EWT and Fibonacci Upward targets as identified soon?  See the Technicals we are looking for to confirm either scenario in tonight's Update.

Log In at www.shepwave.com for Thursday's Regular Scheduled Update for Thursday Morning.

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)

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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.