ShepWave Pre-Market / Intra Day Update for Friday.
by ShepWave.com
Posted: 8/4/2011 21:57 EST

IMPORTANT INTRA DAY UPDATE PUBLISHED.

9:50 Important Intra Day Update

Been a great week for traders, as it continues to be...Dow erasing a 170 point gain to go to a 60 point loss. Any time we see moves like that it is good for traders.

We continue to see critical technical action in the indexes this morning. Wow, that was a quick loss of a rally. I think the mid to longer term trend is making itself very clear, as expected.

Note the Initial bounce targets as posted in this update. The Ideal bounce targets are still the same, but we may not see that high of a level, so be careful. Still remain watching for TRIGGERS. We may be taking some more profits today, depending on market action.

Read notes closely.

Log In at www.shepwave.com for today's Intra Day ShepWave Update

Additional Notes added to today's Pre-Market Update at 7:30 AMET.

Futures are down slightly as of 7:15 AM ET. The Unemployment data will be releassed at 8:30 AM ET. So, we will be watching the reaction of this data from the futures.

We have had a profitable good percentage move recently. This move has confirmed our chart analysis. The U.S. Indexes have seen signals not seen in a couple of years. Markets do not go straight down, so yesterday, we added a hedge; but it is a hedge that we plan on actually making a profit from. We may be adding to this position today.

See the analysis on Crude Oil, (Chart has been added to this morning's update). Note that Crude Oil is hitting the triggers and targets recently shown by ShepWave. Crude oil is strengthening the mid to longer term trend.

Markets are heating up and we should see some more very profitable opportunities. The next few months could see more large intra day percentage moves, some to the upside and many to the down side.

The main point is that the charts have been very clear lately which has equated to good profits for objective disciplined traders and investors.

Log In at www.shepwave.com for the Additional Pre-Market Notes added to this morning's ShepWave Update.

ShepWave subscribers locked in some more profits Thursday. It has been a busy profit taking week. Also added today was a small hedge. Not just a hedge however, there is a good possibility that we can add to this hedge and actually make some quick profits in the next few days from it.

That was an impressive move Thursday. We could have some more days like that in the near future. However, as an objective trader or investor it is always important to consider both the bullish and bearish possibilities.

With that said it is hard to ignore the bearish strengthening signals we have seen consistently, one after the other, for the past few weeks.

Brief rally aside, the trend is strengthening to be down. Note targets and trading strategies.

Read the notes in the charts closely. Note that we had to add the weekly view of the VIX along with the daily view to his update. Our initial target for trhe VIX was hit on Thursday, new targets have been issued.

Markets heating up, some MORE good profits for objective disciplined traders and investors should be ahead.

Log In at www.shepwave.com for Friday's Pre-Market / Intra Day ShepWave Update. Friday is a very critical day, we will be watching the action closely.