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. Was Friday's Sell Off an indication of Bearish trend reversal? Dow, Nasdaq, S&P, QQQQ, Options.
by ShepWave.com
Posted: 7/20/2007 17:22 EST

I will write the regular scheduled update for Monday in two or three parts.  I have also been busy moving so, for next week it may be difficult to do any intraday updates.  The trade set ups that we showed in Thursday  Night's update faired well.  Also, there was a quick intraday trade that was profitable.  Flip Trade. Then Flipped again.  Nice Profits Friday.

 With the markets in the their current situation it is actually easier to play the short term trends.  This will change one way or the other. Eventually.  There is a lot of reasons to support the bearish argument at this time.  Markets have hit Fibonacci extension and Fibonacci Retracement (Nasdaq Composite) target areas that should provide some resistance.  However, the major trend lines (UP) have NOT been broken to confirm that the mid term trend is indeed down.  In this first update I will show the Dow and S&P 500 indexes and what to look for next week.  I will try to identify some trading opportunities since I may not be able to do any intraday updates until Friday.

 

Go to www.shepwave.com for today's ShepWave Part I update for Monday Morning.

 



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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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