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ShepWave Monday Update.. Markets Rallied this week.. 3% for Dow and S&P. 4% for Nasdaq...
by ShepWave.com
Posted: 7/29/2006 00:23 EST

I didn't have on CNBC today, but MarketWatch.com was touting the big rally this week. The first thing that comes to mind is the multi year high set in May. CNBC had installed a special ticker showing how many points away from an all time high the Dow was. We all see what the indexes DID.. The Key here is to try to use technical analysis and evidence to see what they are going to do. ShepWave entered some aggressive positions lately. Some of these positions are in the RED. I am expecting all the recent positions to be profitable. Tonight''s update shows analysis for the indexes and targets. ShepWave expects to start taking profits next week. I had planned on taking profits this week.. but the markets had something else in mind.

Click here to read tonight's ShepWave Update.

Take some time this weekend and read some of the interesting articles at EWI.. Sign up for CLUB EWI for FREE.. Click image below.

From Market Watch.com .. click here to read story.

Fed Beige Book finds slower growth, inflation pressures

By Greg Robb

Last Update: 2:00 PM ET Jul 26, 2006

WASHINGTON (MarketWatch) - Upward pressure from energy and other inputs is persisting, despite reports that the pace of growth in the U.S. economy has slowed, according to a survey of current economic conditions released by the Fed in Wednesday. All 12 Fed districts said their economies were still growing in the last two weeks of June and the first two weeks of July, but there were "numerous individual reports pointing to evidence that the pace of growth has slowed." Six Fed districts reported a decline in the overall rate of growth in their regions. At the same time, pressure on prices from high price of gasoline persisted and in some cases increased.

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WOW,,, These words from the Fed should wake up some folks.

For recent analysis by ShepWave go to http://www.shepwave.com/

Shep

We should all remember to PRAY for Israel. God Bless You and Your Family.

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A Ghost I Haven't Seen For a While... 7/6/2006 5:43:26 PM " Historically, two things have always been true about the world's estimated oil reserves: 1) The experts chronically underestimate the size of those reserves, and, 2) The actual size of the world's proven oil reserves has increased every year for as long as records have been kept....Read More

Fed Watchers, Beware Your Beliefs 7/6/2006 6:27:00 PM " People think that the Fed 'managed' the economy brilliantly in the 1980s and 1990s. But the deep flaws in the Fed's manipulation of the banking system to induce and facilitate the extension of credit will bear bitter fruit in the next depression.Read More

Why DIDN'T the Dollar Rally Today? 7/6/2006 12:42:38 PM " If last week's main event was the Fed's decision to raise U.S. interest rates for the 17th consecutive time, this weeks 'main attraction' has to be the meeting by the Fed's counterpart, the European Central Bank, about the same issue. Well, the ECB did meet today -- and left the rates unchanged.~OK, let's do some basic fundamental analysis now. The Fed raised the U.S. rates to 5.25% last week. The ECB kept theirs at 2.75% today. The U.S. rates remain almost twice as high as in Europe, giving the USD a clear interest rate advantage. You would think that in this situation, the USD would soar, right? Nope... Read on.~Read More

The Perfect Storm In O.J. 7/6/2006 12:17:23 PM " If you want to know about hurricanes, read the mainstream financial news stories on orange juice. If you want to know where OJ prices are headed in the days to come, read Daily Futures Junctures....Read More

Global Markets Ready for World Cup 6/5/2006 2:27:51 PM " World Cup football is here, with the opening matches of FIFA's Germany 2006 scheduled for Friday, June 9. Keeping track of all of the teams and the matches is a gargantuan task -- much like the task any investor faces when trying to track financial markets around the world.~Read More

Europe: 'Sell in May...' or 'Summer Rally'? 7/3/2006 9:11:23 AM " They don't just say, 'Sell in May and go away...' for nothing. May and June are never the friendliest time for stocks -- but this year, they've been particularly harsh. In all fairness, though, the recent declines weren't completely unexpected. Many European analysts went on record calling for a 10% correction -- sooner rather than later. And how could you not? European indexes haven't had a decent correction in over three years, so the recent 'hiccups' could be just that.~It's precisely this 'normalcy' to the declines that makes it tempting to call them 'just a correction.' And then go ahead and load up on 'cheap' European stocks... But as Tom Denham, editor of our European Financial Forecast Service, warns: 'The current juncture is a difficult one. Buying European stocks now would be a little like trying to catch a falling knife. You might succeed, but there is a good chance of being cut.' How do you avoid getting 'cut'? Know what the larger trend is. And the just published, July European Financial Forecast tells you just that... Read on.~NEW! NEW! NEW! Our European Financial Forecast Service (EFFS) now tells you about Special Global Opportunities -- three times a week!~The latest updates include forecasts for the Singapore Straits Times Index and the India Sensex Index. See The European Short Term Update for details (ESTU; part of the EFFS). You'll find Special Opportunities reviewed earlier in the Archives section of the ESTU.Read More

The Independent Investor Crash Course was a huge success: Over 25,000 visitors downloaded the 5 free reports! Dont miss out! Weve extended free access until Friday, July 7. Dont follow the herd -- start thinking independently, visit the Crash Course Now.

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Does Gossip Serve a Purpose? 7/19/2006 6:24:59 PM " Why would the nation's newspaper of record, whose professed standard is 'news that's fit to print,' run a piece that endorses gossip -- and on the 'Science' page, no less?Read More

Markets, Human Nature -- and Gold -- Show Wave Patterns 7/18/2006 3:18:24 PM " What is the stock market? It is an arena in which people are valuing their fellows' progress every minute it is open. It is a wonderful coincidence that people are so interested in money, because it means that for quite a long time, human beings have kept intricate records of their valuation of productive enterprise. Read More

EURUSD: Deficit-Schmeficit? 7/13/2006 9:59:48 AM " Yesterday morning (July 12), the U.S. Commerce Department announced that the U.S. trade deficit widened to $63.8 billion in May. Bad news for the U.S. dollar, right? You bet. Forex analysts polled before the announcement feared that, 'an expanding deficit could draw attention back to the huge U.S. trade shortfall.'~Well, the USD started gaining on the EUR around 3 AM yesterday. And despite the wider trade gap report released at 10 AM and all the fundamental reasoning that went with it, by 11 AM the USD gained almost 100 pips against the EUR. If you think that makes no sense, you're not alone... Read on.~Read More

Grade A B C Meat 7/20/2006 3:53:03 PM " Read More

Baby Boomers, Birthdays & Bikinis 7/7/2006 5:14:26 PM " Yes, that iconic symbol of licentiousness and sexiness was first introduced in 1946 in France by two designers who couldn't get a French model to model it. Read More

We're Gonna Party Like It's...2006 7/18/2006 12:09:56 PM " The Berlin Wall came down in 1989, which just so happened to be the same year when Berlin techno-music lover and aspiring DJ Matthias Roeingh gathered about 150 of his fellow techno-fans on a local street, put speakers on top of his van, and 'raves' -- wild do-it-yourself dance parties that quickly gained worldwide popularity -- were born. Who knew that just a couple of years later Matthias, by then known as DJ Dr. Motte, would throw the largest rave party on the planet? The annual event, called the Love Parade, grew bigger by the year. But to the chagrin of the fans, the event lost its status as a demonstration in 2001 and 'began to slip into financial trouble.' Then, in 2004, after sixteen consecutive years, the Parade was canceled. In 2005, it was canceled again... But this year, Berlin 'felt the love once again as the Parade returned!' The Love Parade tradition has been revived, and yet 'something was missing,' as one eight-year Love Parade veteran put it. 'Nothing is as much fun as this, but we can't understand why we are not more people.' Why, indeed? Read on...~NEW! NEW! NEW! Our European Financial Forecast Service (EFFS) now tells you about Special Global Opportunities -- three times a week! The latest forecasts include the Saudi Tadawul All Share Index, Tokyo Nikkei 225 Index and Seoul KOSPI 200 Index. See the European Short Term Update for details (ESTU; part of the EFFS). You'll find Special Global Opportunities reviewed earlier in the Archives section of the ESTU.~Read More

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Hadn't Happened Since Nixon Was President... 7/25/2006 5:56:21 PM " Late last month (June 26), U.S. Treasuries witnessed an event that hadn't been seen since Richard Nixon was president: prices on the 30-year bond fell for the ninth consecutive session. March 1974 was the previous occurrence, if you're keeping score. And for anyone interest in why the slump in Treasury bond prices had become so extreme, the answer appeared unmistakable....Read More

The U.S. Dollar: Surprise, Surprise 7/27/2006 1:57:10 PM " The dollar sure knows how to surprise, doesn't it? In December 2004, for example, it stood at an all-time low of $1.356 against the euro and Y102.58 against the yen. Yet by the end of 2005 the USD had defied all the 'crash and burn' forecasts, to gain 14.6% on the EUR and 15.2% on the JPY. This was its best performance 'against the euro and yen since 1999 and 1979 respectively' (The WSJ). Try counting such 'surprises,' and you'll quickly run out of fingers. From an Elliott wave viewpoint, the explanation for them is simple, though... Read on.Read More

Ethanull & Void 7/25/2006 10:56:25 AM " If memory serves, this idea first gained popularity back in late January when sugar prices soared to their loftiest level in 25 years. At the time, jewelers, bakers, and flexi-fuel carmakers were dead set on one idea: the higher oil prices become, the greater the demand for the alternative fuel made from sugar cane....Read More

Chinese Economy: Kaa...Boom? 7/25/2006 12:19:09 PM " This is an unusual topic for the European Market Watch, but let's talk about China for a minute. (Heck, everybody else does.) Despite how well things have been going for China's economy, there has been a huge thorn in the paw of Asia's new 'powerhouse' -- the stock market. The Chinese government had been very concerned about its poor health, and for good reason. After hitting an all-time high in mid-2001, the Shanghai Stock Exchange Composite index (SSE) lost more than half of its value in 2001-2005. The glaring disparity between the Chinese economy -- which at the time was adding an average of 8% a year, vs. the depressed position of the SSE was so disconcerting for Chinese officials that last summer they even considered bailing out the stock market. But then, mid-summer last year, Chinese stocks rebounded -- and have rallied for over a year now. If China is your darling, though, don't break out the bubbly yet... Read on.~NEW! NEW! NEW! Our European Financial Forecast Service (EFFS) now tells you about Special Global Opportunities -- three times a week! The latest forecasts include the Israel Tel Aviv 25 Index, Saudi Tadawul All Share Index, Tokyo Nikkei 225 Index, Seoul KOSPI 200 Index. See the European Short Term Update for details (ESTU; part of the EFFS). You'll find Special Global Opportunities reviewed earlier in the Archives section of the ESTU.Read More

Auction houses are cashing in this year with record prices for rare paintings. What is behind this drive in the art market? Is this trend a warning sign to Investors and Traders alike? Find out in this FREE exclusive report now.

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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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