ShepWave Updates for Thursday Published. Stocks to continue to rally straight up to the EWT Targets? OR are new multi year lows coming soon?
by ShepWave.com
Posted: 4/15/2009 18:34 EST

The Update published earlier gives 'one' perspective looking at a longer term view of what we are working with.  Tonight's Pre-market Update gives some specific parameters as to whether or not we are going to new recent highs.  (Before making a correction of the rally from March lows that is).  The charts aren't as muddled as one would expect. 

Two important technicals recently:  #1 the Gap Up open from last Thursday in the SPY has not filled yet, and #2 the recent short term wave action from the recent top has not been an impulsive downward move.  Read the notes in tonight's two updates closely.

Log In at www.shepwave.com for Thursday's Pre-Market / Intra Day ShepWave Update.

As covered in Monday's Regular Update the VIX has now made a double break of its 50 week moving average.  But, be careful reading too much in to this signal.  It is important to look at the indexes as well and in particular look at the Short term wave action. 

Tonight's Update takes a look at the VIX, showing potential Bearish (for the VIX... Bullish for Equities) targets and takes a look at the "V" shaped bottom we saw with the March lows.  Is the "V" shaped multi-year bottom something LONGS should be concerned with?  OR will the Indexes continue to rally straight up to their Ideal EWT Targets as shown in recent ShepWave Updates?

Log In at www.shepwave.com for Thursday'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)

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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.