ShepWave Pre-Market / Intra Day Update for Tuesday.
by ShepWave.com
Posted: 10/11/2010 23:46 EST
The futures are down a bit as of 11:20 PM ET. Conditions are ripe for the expected Island Reversal but take note of the first 45 minutes of trading if the markets do gap down at the open. Note that Monday was the 5th day of the potential Island Pattern.
Also, note that the Dow Industrials index re-tested its 50 month moving average on Monday.
Have the markets hit a key top, or are they still in the process of finishing this wave 2 rally?
Log In at www.shepwave.com for Tuesday'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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