ShepWave
ShepWave.com
ShepWave.com
Elliott Wave Theory stock market technical analysis. Major U.S. Indexes.
Specializing in QQQ and the DIA analysis and trading. QQQ and DIA Options trading.
ShepWave's BLOG

ShepWave

ShepWave.. DOW INDU Fibonacci Targets HIT!!!!.. NOW WHAT???
by ShepWave.com
Posted: 5/3/2007 03:16 EST

The Dow Industrials index has hit the expected Fibonacci target.  So.. now what?  Is the rally over? Remember that ending wave patterns 'can' have a tendency to extend.  Also the Fibonacci target was based on a 61.8% Fibonacci extension in comparing the recent wave moves from last Summer's lows.  There is a possibility of a 1.618% fibonacci extension which would take the dow to above 15,000.  I don't see this as being very likely.  But Price RULES.  In tonight's update I show the potential trade reversal set up and how 'cautious' traders can get triggered in SHORT.
 
Click here for Tonight's ShepWave Update.
 
Also, Non-Subscribers can   CLICK HERE  to read some brief notes we have posted on StockCharts.com.
 


 
Non Subscribers can read our brief notes posted on our page at Stockcharts.com  Click below.  
 
 
 
 
 


 
 
 

 

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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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