ShepWave Pre-Market / Intra Day Update for Wednesday. NEW Short Term Wedge Pattern!
by ShepWave.com
Posted: 2/13/2018 22:54 EST

IMPORTANT INTRA-DAY UPDATE FOR WEDNESDAY:  GAP DOWN OPEN FILLED!

This  morning's gap down open was a single break of the short term (sell) trigger mark--not a double break (as was delineated in the premarket update last night).--so NOT a short term aggressive sell signal.

Based on this morning's emails--some of you took advantage of buying on that gap down open.  This can be tricky for some of the newer traders we understand. Keep the short--to--mid term targets in mind. Trade  within your own limitations.

Many of you are still open short term long side positions from last Friday's short term aggressive buy signal.  REMEMBER--do not confuse the short term trend with the short--to--mid term trend (or Swing traders trend).

Log In at http://www.shepwave.com/ for today's Intra Day ShepWave Update.

The SELL SIGNALS we saw the last week of January and in early February worked out perfectly.  (Remember the key TIME-CYCLE TURN DATE.)

Then, last Friday we saw an aggressive short term buy signal that has worked out well.  And as said, it is the short term wave patterns which will need to be watched very closely for the next move to be caught in the major U.S. equity indexes.

For those of you who have been paying attention this week, we have been delineating a potential short term wave pattern using the 15 min SPY chart--and putting in new notes and using a potential short term projection of wave action.  THESE NOTES AND TREND LINES HAVE BEEN CHANGED.  We now have an important potential WEDGE PATTERN.

It is not that the anticipated action has changed, but the details of the action has been altered a bit--giving us NEW and important short term triggers.

Log In at www.shepwave.com for Wednesday's Pre-Market / Intra Day ShepWave Update.

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