ShepWave Pre-Market / Intra Day Update for Friday.
by ShepWave.com
Posted: 7/23/2010 00:38 EST
Does Thursday's action show that the U.S. Equity Indexes are setting up for yet another Island Reversal? Remember that Island Reversal patterns as we have been seeing are common at key tops...Remember October 2002? (See SPY chart in tonight's update).
Or are the indexes setting up for an Ending Diagonal wave 2 pattern? (see Dow Industrials chart in tonight's update).
QQQQ traders have some clear but possibly aggressive signals to look for Friday.
Log In at www.shepwave.com for Friday's Pre-Market / Intra Day ShepWave Update.
| 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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