ShepWave's BLOG

ShepWave

ShepWave.. Short Term Trade Set Ups for the QQQQ. Trend Trading the QQQQ.
by ShepWave.com
Posted: 2/13/2007 17:38 EST

I have published another update tonight. The update published earlier showed some risky and aggressive entry points. This second update shows a more cautious entry into a new short term position either LONG or SHORT.

Will the Dow continue to rally? I show a short term view of what is going on and possible trading strategies in tonight's update.

Go to http://www.shepwave.com/ for updates

I have published a quick update showing our trading plan for Wednesday, February 14, 2007. We have scalped some quick trades the past couple of days. We are looking for a potential day trade profit of $.40 for Wednesday (possibly Thursday exit). We are also setting up for a more profitable trade set up which should be finished by Friday. Remember this week is Options Expiration Week. So... we may not get any big moves in the QQQQ but the trade set up 'should' reveal itself.

Click here for today's ShepWave Update.

http://www.elliottwave.com/a.asp?url=http://www.elliottwave.com/club/&dy=bso-bt&cn=6sw

In Monday Morning's report I show mid term analysis that may be indicative of a resumed rally. The indexes have completed a three wave down move from the highs of a few weeks ago. The question is in the possible Elliott Wave Theory counts. Have we completed an A,B,C, corrective downward move or wave 1,2,1 of a larger 5 wave impulsive move down? I show in tonight's update possible entry points for possible LONG SIDE positions and the confirming points that would be a stronger indication that a mid term Bearish Move is in process.

I have included some guidance to continue trading the QQQQ for Short Term Profits. I will try to update everyday with continued analysis and trigger points this week. I will be going out of town so the analysis covering short term positions will be published before the market opens.

What are the Monthly charts for the Indexes indicating? I show some analysis in today's update which could be critical for long term investors.

Click here to read today's ShepWave Update.

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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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