ShepWave Pre-Market / Intra Day Update for Friday Published.
by ShepWave.com
Posted: 6/1/2017 22:38 EST

We are seeing some very interesting chart patterns lately in the major US equity indexes. We are seeing Island patterns all over the place. 

I cannot help but remember back to some key turning points in market history in which this has happened; granted it was the inverse action from what we are seeing currently. Some of you old-timers with ShepWave remember back in October 2002 when we saw the major indexes doing the same thing only in the inverse. That set us up for a rally of great profitability. So, now the question remains: are all of these Island Patterns supporting a top is about to be set?

Are the US Markets at a key point in market history? That is something that very seriously needs to be considered.

Stay objective! See current patterns and triggers!

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Proper Technical Analysis is a Science, an Art, and a Discipline:

It is a SCIENCE in that we identify and analyze key technical occurrences and correlations. These lead to patterns which can be used to identify probable future directional movements.

It is an ART because there are times when the strict definitions and observations have variable outcomes. The market analyst has the history and experience to put all of the contextual observations--which go beyond the bounds of the immediate contextual evidence--to find the most probable future pattern. Note most analysts do not actually provide future probability in the same way ShepWave does.

It is a DISCIPLINE in that we have guidelines to use to minimize any possibility of the market(s) going against our prescribed direction. This is also one of the aspects that most analysts do not designate clearly. This can make the difference between a consistently profitable trader/investor or one who loses consistently.

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