ShepWave
ShepWave Pre-Market Update for Wednesday Published. Still listening to CNBC? Of course it IS the new best 'comedy network'.
by ShepWave.com
Posted: 6/17/2009 00:59 EST
I heard a CNBC 'pundit' comment today saying: "Is this the beginning of a correction?" So, are they saying that we are back in a bull market? C'mon. The All time high in the Dow was 14,198... the Dow Industirals hit a low of 6,469 in March. This was a 7,729 point move. So in actuality,it is the rally from the March lows (roughly 2,500 points), while being impressive to say the least, is more likely the 'corrective' move. Anyway, most of you know that I don't watch CNBC...not much anyway. But, it is good for a laugh once in a while.
As shown in ShepWave Updates the indexes have made Long Term Technical indications which are unprecedented. This in itself should cause even the most Bullish of investors to at least be cautious and look objectively at the markets. As covered in Updates, the rally from the March Lows is most likely a Wave A of a three wave upward correction. But, we must stay very focused on the short term wave action which should confirm this potential or the potential that we have seen another key mid to long term top.
Tonight's update shows the clarity if the recent impulsive wave action. Some short term trading strategies, triggers and initial ideal targets are shown.
Log In at www.shepwave.com for Wednesday's Pre-Market / Intra Day 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.
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Short, Mid and Long term Trading Analysis with Trade Entry Signals, Strategies, and Targets
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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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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