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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.
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ShepWave

ShepWave.. Regular Update for Monday Part I Fibonacci Extension Targets for DOW Part II potential trading opportuniteis.... BIG... QQQQ.... DIA .
by ShepWave.com
Posted: 6/2/2007 19:34 EST

  Monday's Regular Scheduled Update will be in several parts.  Part I shows some weekly charts of the Dow Industrials.   Taking a look at some potential different EWT counts.  

 Also, we have some very interesting things in the Daily chart of the Dow Industrials index showing the rally from the lows of Last Summer to the highs of last week.

Notice that the wave 3 (only) rally was 1753 points. The rally in the index from the lows of March 2007 to the highs of last week (wave 5) was also exactly 1753 points.  Remember according to the rules of EWT... Wave 3 is 'usually' the longest of a 5 wave move .. AND is 'NEVER' the shortest. 

Possible Fibonacci Extension targets for the recent rally shown.  Does the fact that wave 5 = wave 3 indicate that the rally is over?  Will the Dow see 14,775 (another possible Fib Ext Target)  or will the Sell Off begin this next week??  Refer to the May 8th update to see how ShepWave showed analysis for recent targets that have been hit.

 

Click here to read tonight's ShepWave Update.

 

In our Update posted May 8th I showed (using recent UP trend lines) 47.81 as a potential Fibonacci Extension Target for the QQQQ.  The highs of the QQQQ last week were 47.77.  Pretty close.  In Part II of the Regular Scheduled Update for Monday I show the recent trends and possible Upside targets.  I also show the trend lines and techniques to use to enter  SHORT SIDE positions or to  use as a stop/loss if LONG. 
 
I plan on showing some possible individual Stock trade set ups in my Part III Update for Monday.  One stock I am looking  at is BIG (Big Lots).
 
Click here to read today's ShepWave Update part II.
 
Non Subscribers can read our brief notes posted on our page at Stockcharts.com  Click below.  
 
 
 
 
 

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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