ShepWave IMPORTANT Updates for Monday.
by ShepWave.com
Posted: 6/2/2017 17:58 EST

Markets just keep going higher and higher!  How much higher?

When is a bullish move NOT a bullish move?

Just Published:

SPECIAL Update for Monday: Equity Index, Crude Oil and Gold analysis. WEEKLY CHART ANALYSIS.

Read the notes and analysis very carefully in this update.

In this update I have shown the weekly time frame analysis.  We are seeing some very critical technicals with these new highs.

The new highs in the indexes (the Dow Industrials in particular) have managed to give us clear recent bearish divergence on this weekly time frame.  This is something that has been keeping the markets up in our opinion: we have not seen the proper prerequisites in a sense--for a bearish move.  ShepWave has been going over this aspect and technical fact for a very long time. Hence, the reason why we stress to always keep the analysis from all of the time frames we give in mind while considering any and all trading and investment decisions.

Note however, that bearish divergence is NOT a sell signal in itself, but merely a preferred prerequisite to a sell signal; meaning, that once we do see a sell signal we should have more confidence in the signal. There will be other technicals that will either strengthen or weaken the signal as well. I will discuss those as they come up over the next few weeks and months.

Regarding the NASDAQ (NDX) see the new notes in the weekly NDX chart. On the one hand we are seeing a very strong bullish reading in the RSI, but we have the possibility of this recent upward thrust being an overthrow of a bearish wedge pattern. We will have to play this one very carefully. Many of you have contacted me personally to put in hedges here so, just be careful. WATCH FOR ACTUAL TRIGGERS on the shorter time frames.

Crude Oil traders: the preferred view and triggers have been working well here. Just be sure to use stops to lock in profits.

Gold traders: again, so far so good in our preferred bias. But we are looking for a critical move coming very shortly--probably this next week. Again, we suggest stops to lock in profits.

The Regular Update for Monday containing the daily time frame charting analysis  will be published later this weekend. 

The Pre-Market Update for Monday will also be published later this weekend.

Enjoy your weekend.

Shep

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The Regular Update for Monday has been published. This contains the daily time frame analysis for the major U.S. equity indexes, Crude Oil, and the VIX.

Monday's Pre-Market / Intra Day Update will be published Sunday evening (U.S. time) and will have some important pre-market notes based on the activity in the futures markets.

This next week is going to be very important.

There will be a total of three updates for Monday.

Be safe, PLEASE!  We have many subscribers in the London area; we are praying for you.

Enjoy your weekend.

So far the London attacks have not seemed to have affected the U.S. futures markets. Market opens can be tricky. We have to also consider the strength of the late week rally of last week and the steep slope; these two factors will be guiding our short term trading in the first few days of this week.

Log In at www.shepwave.com for Monday's Pre-Market / Intra Day ShepWave Update.

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.

$149 One Year ShepWave Subscription Special.

ShepWave $149 One Year Subscription special for our valued customers will end soon. Thanks to all of our regular customers of 14 years. This special offer is being extended to any new subscribers as well, for a short time only. [To current up-to-date subscribers, the one year will automatically be added to your expiration date.]

14 year anniversary in June