ShepWave Regular Scheduled Update for Monday Published early.
by ShepWave.com
Posted: 7/12/2009 02:06 EST
Regular Scheduled Update for Monday Part II. Looking at 40+ and 70+ year charts for more clarity.
It is important to keep in mind the Elliott Wave Theory larger degree probabilities that the U.S. Equity Markets could be in. Part I of Monday's ShepWave Update showed some key technicals to watch for the more bearish 'wild card'. Part II of Monday's Update is a bit of a review showing some long term charts to point to the potential that is out there. You won't get the true scenario from the television 'talking heads' that is for sure.
Log In at www.shepwave.com for Monday's Regular Scheduled ShepWave Part II.
Part I of Monday's ShepWave Update Published.
I think back to the Fall of 2007 when all we heard on CNBC and the 'like' was "new all time high". May I remind you that we were looking for the reversal the whole time. The reversal lead to one of the best trading opportunities of our lifetimes. An almost 50 % downward on the major indexes in just a matter of months.
The recent rally has been impressive. But, I repeat. We are not in a long term BULL MARKET. While the 'lemmings' are feeling complacent with the recent rallly the real longer term trend is just around the corner, if not already here. That is the tricky part. We have hit the key technical indicators to strengthen our ideal mid term targets we have been showing. But, the wild card 'this time' is a Bearish Wildcard. Things could actually be much worse. In this update you will see a couple of the technical indicators which if hit would cause 'smart' traders to 'double down'.
Log In at www.shepwave.com for Monday's Regular Scheduled Update.
Click here to read the ShepWave Update from August 21, 2008 when the Dow was at the 11,400 area.
Stock Market Technical Analysis. Elliott Wave Theory
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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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