ShepWave
ShepWave Update Published. Are the Markets Oversold?
by ShepWave.com
Posted: 5/22/2006 22:41 EST
I am writing tonight's update to show the current potential Elliott Wave Theory counts and potential future direction of the Markets. Are the Markets Oversold? Remember to use ShepWave trading disciplines (shown in tonight's update) to enter trades.... especially risky trades. Risky trades would be trades that go against the larger degree trend. I show targets and strategies in tonight's update.
In tonight's update you will see different Elliott Wave Theory counts for the recent action. Which count is in effect could be confirmed pretty early tomorrow. The DOW went right to our short term target of 11,040 today.
We are now FLAT the QQQQ and DIA options. We have had several 100% profit or more in recent trades. We should be reentering some OPTIONS POSITIONS for the QQQQ and
DIA this week ASAP.
Is there a 'buying' opportunity in the markets. Possibly. BUT, Use our disciplines and strategies to enter positions. Contrary to most services and the beloved CNBC. We try to teach strategies and disciplines to enter, exit and manage trades. The longer term trend is being confirmed.. so extreme caution should be used at the current time.
Don't forget to sign up for Club EWI by clicking the image below. IT IS FREE.
Feed Shark
|
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.
|
