ShepWave Pre-Market / Intra Day Update for Friday Published early. Is a key market top in?
by ShepWave.com
Posted: 12/3/2009 16:49 EST
The Pre-Market ShepWave Update for Friday has been published early. I may publish additional information later this evening as I watch the Futures and Overseas markets.
There may have been some critical technicals hit Thursday. Note that it is possible that the selling pressure in the last 1/2 hour of market action Thursday basically just filled the Gap Up open from Monday. But there are some key areas that we need to take note of. Keep in mind that the current Wave 2 ( or B) rallly from the March lows will end at some time. When it does a quick downward move is a good possibility. Also, it is true that the rally could last a few more weeks. The key mid term triggers are very important.
It is very important to stay objective in viewing the current market action. We don't want to 'jump the gun' too early, but the market may be indicating that a change in the short to mid term trend is either upon us or has occured.
Log In at www.shepwave.com for Friday's Pre-Market / Intra Day ShepWave Update.
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.”
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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