ShepWave Critical Pre-Market / Intra Day Update for Friday has been published.
by ShepWave.com
Posted: 12/17/2009 23:17 EST
The last several weeks have been filled with gap and Island patterns. The Island reversals of just the last few weeks have been very tradable, including the one which ended yesterday. This was confirmed by the action Thursday. Notice that the indexes are once again approaching key mid term trend lines... the converging short term trend lines are very important.
Have the markets topped? Has the Wave 2 (Alt B) rally ended? How low will stocks go? Is it time to double down on shorts as some Elliott Wave Theory analysts have recently done? ShepWave always recommends caution.
Read the key areas and triggers in Friday's Pre-Market ShepWave Update at www.shepwave.com
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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