ShepWave IMPORTANT Pre-Market / Intra Day Update for Wednesday Published
by ShepWave.com
Posted: 4/18/2017 18:11 EST
See what I mean! BAM! You Just Can't Make This Stuff UP!
We saw the anticipated upward thrust this morning to fit into the anticipated overthrow as shown in the wedge pattern in the short term charts and analysis. Emphasis on short term. This was given last night when we published this morning's analysis and was based on the activity of yesterday.
Notice a lot of analysts are continually changing their charting analysis because they try to predict action too far out in the future from what the current action is dictating. After a few decades of analysis we at ShepWave have seen this often in many analysts; many who are very good analysts. They just bite off too much to chew.
So please read the notes and analysis carefully in today's Updates.
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The two biggest mistakes I see traders making currently, well three if you count listening to other analysts, is (1) that they are assuming the market action and not relying on the actual patterns to *dictate* their trading decisions (this usually happens as a result of trying to anticipate the result of some news item; CNBC has done a good job of brainwashing many of this) and (2) that they get into too aggressive of positions; positions in which they must be absolutely right at that exact time--they have no wiggle room. So, keep this in mind.
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13 year anniversary
| 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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