ShepWave's BLOG

ShepWave

ShepWave Update Published. Nasdaq to continue to rally? Is a high in for the Dow Industrials. QQQQ Trading.
by ShepWave.com
Posted: 1/5/2007 02:05 EST

I have published the regular scheduled update. The markets have seen some volatility the past few sessions. I do NOT expect to see this volatility end any time soon. Tonight I highlight the action of the past couple of days and show what we are looking for to either confirm that the rally will continue or that it is over.

Will the Nasdaq continue to rally?

Click here to read tonight's ShepWave Update\

What does 2007 have in store for stocks? Will the Rally from the Summer Lows continue? How about the rally from October of 2002?

The weekly charts show that the rally from the lows of October of 2002 'may' not be over. There is slight bearish divergence using the RSI and MACD and other technical strength indicators. The daily charts show that the rally from the lows of the Summer of 2007 should be about to turn and at the least correct a portion of the rally. Once we get a confirmed sell signal ShepWave will issue targets for the indexes.

We have already had two 'false' sell signals over the past several weeks. This is actually very common at 'key' market tops. Based on the possibility of an 'ending diagonal' pattern from the lows of October of 2002 the weekly charts may NOT be as indicative of a potential continuation of the rally from the lows of October of 2002.

Again, ShepWave will continue to monitor the indexes and show key levels for potential 'bounce' areas once a confirmed 'break' of the indexes occurs. In tonight's update I show what we are looking for over the next few weeks to confirm the recent up trend is correcting (or is over).

Click images below to Join CLUB EWI or order books.

Trend Trading, Trend trading stocks, market trends,stock trends,stock market technical analysis, stock market timing,qqqq, qqqq options, qqqq trading,options, options analysis,stock options, trading options,trading stock options ,stock market technical analysis

Feed Shark

813....7....9

847..7....14

917....7....23

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.

ShepWave Login

Forgotten Password

Privacy Policy

Enter Trial Code