ShepWave Pre-Market / Intra Day Update for Tuesday.
by ShepWave.com
Posted: 7/24/2017 17:48 EST
Intra Day Update for Tuesday Published:
I personally think it is entertaining when analysts continually try to call definitive market tops; only to see new market tops.
Remember, please watch for initial triggers on the various time frames to support ANY market view. We do not run on emotion. Then we will want confirmation triggers.
Emotion and the markets just do not mix. If I have learned anything over the past few decades being involved in the markets--it is that. Stay objective! TURN OFF CNBC!
A big move is coming--and in the meantime the markets will weed out most of the weak bears. (Sorry if this is too anthropomorphic.)
Log In at www.shepwave.com for today's Intra Day ShepWave Update.
Nice moves in GOLD recently: note the aggressive BUY SIGNAL given on July 11th has worked out flawlessly. So, now what? First of all, use stops that guarantee that you lock in profits. I do not mean to put an actual stop in place electronically--that would enable a bad tick to get you stopped out--but to pay attention to the action and have a key stop/loss area in mind as to when to pull-the-trigger.
The major U.S. equity indexes keep hitting new highs. Will the indexes keep hitting new highs? Or is there good reason to believe they are topping currently?
Now is not the time to be ignoring important technicals.
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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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