ShepWave Update Part III. Dow, QQQQ, NDX Targets, Disciplines, Strategies
by ShepWave.com
Posted: 6/24/2007 16:07 EST
Market Watch has changed their headlines a bit from yesterday... a bit more cautious than yesterday's attitude of a definite rally this coming week. They read as follows:
Much will hinge on this week's GDP, housing, durable-goods and consumer-confidence reports, as Fed policymakers sit down to consider next move on interest rates.
The bottom line is that we as traders/investors should be aware and cognizant of the news and upcoming economic data; but to say that the markets will go up or down based on the news is to try to predict reaction. In technical analysis we use the technicals to dictate trading. This keeps our emotions (and our guess work) out of it.
In today's ShepWave Update Part III we show a closer view of what to expect this week and some potential targets. Targets and Trading Disciplines for the Dow and QQQQ (NDX) along with some possibly revealing technnicals from the Bullish Percentage Index of the NYSE.
Will the markets make new highs or have we entered in to BEAR MODE? Targets shown.
We have a very important week coming up. Please read the ShepWave Updates for Monday Parts I, II and III very closely.
Go to www.shepwave.com for ShepWave Update Part III for Monday.
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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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