ShepWave Regular Scheduled Update for Monday Part I Published. (Weekly Time Frame Chart Analysis)
by ShepWave.com
Posted: 12/3/2011 16:27 EST
IMPORTANT week for traders and Investors coming up.
Last week we saw the indexes rally 7% in the major U.S. Equity Indexes. Note that the Dow Transportation index rallied 9%. Crude Oil has also rallied. As stated recently Crude Oil and the Dow Transportation indexes are a bullish wild card for the equity indexes.
The type of action we have seen over the past several months is to see a rally take place slowly, then a sudden sell off, then a slower paced rally again. Is the speed of last week's move an indication that the indexes are going to go to new highs? What are the odds that the indexes are rallying to possibly the October highs? or the May/July highs?
The chart pattern ShepWave Identified this past week is a favorite pattern to trade. This pattern is still potentially working itself out. It may be that on Monday and Tuesday we enter into some New Mid Term Trading Positions.
The remaining updates which will be published this weekend will show more important shorter term projected action, triggers and targets for this next week.. Note that the bounce targets issued last weekend were hit during this past week.
Log In at www.shepwave.com for Monday's Regular ShepWave Scheduled Update Part I (Weekly Time Frame Analysis)
| 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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