ShepWave
ShepWave.com
ShepWave.com
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.
ShepWave's BLOG

ShepWave

ShepWave Update Published.. Short term action. Fibonacci and Trend lines.
by ShepWave.com
Posted: 6/5/2007 18:30 EST

We saw some SHORT TERM key trend lines get broken for the DOW and SPX today.  This is for short term traders only. (Direction for mid to longer term traders is still not very clear). Fibonacci extension targets and key trend lines have been shown in last weekend's updates.  The Trade shown last weekend for the QQQQ worked out well if your are a cautious short term trader and use a trailing stop/loss.  I show in tonight's update a good stop/loss for the current QQQQ trade shown last weekend.   If you took the BIG (Big Lots) trade you should be looking very good right now (2.94% Move today) .  I urge caution and please use stops that meet your own risk tolerance or lock in profits.  The action of the NDX (QQQQ) is motive (non-impulsive) from last week's high.  IS this an indication that higher Fibonacci Extension targets for the Indexes are yet to come? 
 
Click here for today's Special ShepWave Update. 
 

 
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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