ShepWave
ShepWave Updates for Thursday Published
by ShepWave.com
Posted: 11/2/2011 16:43 EST
Log In at www.shepwave.com for today's end of day notes in today's Intra Day ShepWave Update
Important Intra Day Analysis
Was this morning another head fake pump? Log In at www.shewpave.com for today's Intra Day ShepWave Update
Thursday's Pre-Market / Intra Day Update Published
The Markets saw a bit of a recovery bounce on Wednesday after two strong down days. Is the rally back?
I almost never have the sound up on CNBC while I am working and trading. CNBC (or the preferred Bloomberg) is usually on...but it is on MUTE. Over Monday's and Tuesday's action the look on the faces of the commentators (I don't have the heart to call them analysts) was one of a 'dog with his tail between his legs after he was scolded for chewing up the family couch.' Everyone had gotten all pumped up on the hope of a Greek solution, only to be let down. The cheerleading and emotion of most of the commentators does not help.
I received a couple of emails last Wednesday evening asking me why I failed to even mention the Greek solution. Hopefully now every one has the answer. It was no solution for one, and for two, let the technicals speak for themselves. As a technical analyst (which we all are, or should be, if we are in the markets) the key is to be disciplined and objective at all times. ShepWave added some Short Side Positions on last Thursday; granted that was a gutsy call...
The technicals we have seen this week are again important. Log In at www.shepwave.com for Thursday's Regular Scheduled ShepWave Update
Again ShepWave encourages everyone to sign up at Elliott Wave International. At the least sign up for CLUB EWI, it is free. Below is a link to sign up for CLUB EWI and also I have posted a brief excerpt from an Article by Robert Prechter JR.
How Do You Get from Dow Theory to Elliott Wave Analysis?
Happy 160th Birthday, Charles Dow
By Elliott Wave International
If you are interested in Elliott wave analysis, odds are that you have also heard of Dow Theory, whose best and longest-lived proponent is Richard Russell. (Best wishes to Richard as he recovers his health.) This excerpt from Prechter's Perspective explains how Elliott wave analysis and Dow Theory are connected. We wanted to run it now in honor of the 160th anniversary of the birth of Charles Dow, which the Market Technicians Association celebrates on Wall Street on Thursday, November 3, 2011.
Read More.
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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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