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ShepWave Pre-Market / Intra Day Update for Wednesday Published.
by ShepWave.com
Posted: 12/1/2009 22:46 EST

Yes it is true that the series of 'gap ups' and 'gap downs' (Island Patterns) recently could be indicative of the markets possibly reaching a 'key top'. (Remember October 2002?) However, there is still reason to be cautious entering into very Bearish positions. With that being said, a tight stop/loss should be placed on Long Side Positions. The key trend lines ShepWave has been watching have basically stayed the same, presenting a bit of a trend to trade profitably for the Short term. The recent market action is also 'tipping the hand' of the market direction to come.

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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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America's soul is lost, collapse inevitable

The link above is an interesting article. The fact is that we have a current administration that openly admits to believe (and has incorporated) the theories proposed by John Maynard Keynes are a viable way to help the economy.

May we all be reminded of Keynes' own words:

When asked about the long-term effects of his theory his answer was, �In the long term we are all dead.�

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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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