ShepWave Pre-Market Update for Friday has been published. Additional notes added at 8:13.
by ShepWave.com
Posted: 8/20/2010 08:21 EST
Intra Day Update published at 11:58 AM ET.
The recent action is strengthening the Fibonacci Extension target we issued the other day. See Dow Industrials 60 minute chart in today's update for this target.
Log In at www.shepwave.com for today's Intra Day ShepWave Update.
Additional Pre-Market Notes: 8:13 AM ET.
The futures are down a bit as of 8:00 AM ET.
Usually traders are to 'expect' gap down opens to try to fill. However, just as on August 11th we were not expecting the gap open to fill due to the Island Reversal pattern, there are certain patterns which lead one not to expect the filling. This morning's potential gap down open has technicals associated with it which make it uncertain whether or not the gap will fill or not.
Read this morning's additional notes closely. Yes, the markets are heating up. Mid to Longer term technicals are strengthening the trend, but remember that markets don't move straight up or straight down.
Log In at www.shepwave.com for this morning's Additional Pre-Market 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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