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


Posted: 3/7/2018 23:50 EST

It is actually becoming ridiculous how the media can get people in such an irrational state. The U.S. equity indexes futures being down Tuesday and Pre-Market Wednesday was a predictable and very profitable trading pattern.

Again--stay objective. Keep trading patterns within the context of the pattern and time frame.



The Pre-market  / Intra Day Update for Thursday has been published as well.

Read the Regular Update for Thursday published--showing the critical daily time frame charts and analysis for the major U.S. equity indexes, Crude Oil, GOLD, and the VIX.

LONG TERM TRADERS and INVESTORS: Read the critical notes that apply to you. Notice how nicely a key trend line has come back into play. A trend line we have had in place for more than a year.

We have some important NEW TECHNICALS for the major U.S. equity indexes on the daily time frame--the short term signals have been working out nicely--but now even the daily time frame charts (as in the Regular Update for Thursday) is revealing some key NEW TRIGGER AREAS on that time frame that need to be watched carefully and closely.  


CRUDE OIL TRADERS:  We are currently in a similar situation as in equities--see potential WEDGE PATTERN

G0LD--is at a critical level. Read new notes closely.


Also--read the Pre-Market / Intra Day Update for Thursday--which will be published shortly.

Log In at for Thursday's ShepWave Updates.

$169 SIX MONTH ShepWave Subscription Special.

14th Anniversary Special.

ShepWave $169 SIX MONTH Subscription special for our valued customers will end soon. Thanks to all of our regular customers of 14 years. This special offer is being extended to any new subscribers as well, for a short time only. [To current up-to-date subscribers, the one year will automatically be added to your expiration date.]

14 Year Anniversary



When One Pattern Ends, Another Begins
Learn what really governs the trend of interest rates

By Elliott Wave International

By Monday, Feb. 26, the stock market rally that carried major indexes out of the depths of the recent sell-off came to within 1000 points or so of the DJIA's Jan. 26 all-time high of 26,616.

The next day, on Feb. 27, a major financial publication published this headline (Forbes):

U.S. Stock Market Surge - 'The Bull Market Is Back'

Throughout the rally, many other observers expressed the view that the uptrend was back on track.

In stark contrast, after the close on Feb. 26, with the DJIA near 25,700, our Short Term Update showed subscribers this chart and said:


The DJIA gapped higher at today's open for the third straight day, carrying to 25,690.60 intraday. The index has carried into resistance at 25,520-25,920 (2763-2800 in the S&P) and the subwaves of the rise appear complete or nearly so.

As you know, the very next day, the DJIA closed down nearly 300 points, and since then, the volatility to the downside has persisted. (As I am writing this on Thursday, March 1, a CNBC headline says, "Dow plunges as much as 586 points...")

Not all Elliott wave forecasts work out like this. Still, what you gain from looking at the market through the Elliott wave prism is a roadmap of sorts. When you can count one price pattern as complete, you know what pattern should come next. That's how on February 26, our Short Term Update editor knew that the rally off the recent lows was on its last leg. Next, the wave pattern called for a reversal.

This is quite in contrast with many other market opinions you hear. A Feb. 26 Wall Street Journal article described it this way:

How Do Pundits Never Get It Wrong? Call a 40% Chance

Talking heads have learned that forecast covers all outcomes ...

Say there is a 40% chance of a market going up or down, and you'll be "right" either way.

The Elliott wave model employs strict rules and guidelines. And at this market juncture, the implications of what it's revealing are huge.

If you are prepared to take the next step in educating yourself about the basics of the Wave Principle -- access the FREE Online Tutorial from Elliott Wave International.

The Elliott Wave Basic Tutorial is a 10-lesson comprehensive online course with the same content you'd receive in a formal training class -- but you can learn at your own pace and review the material as many times as you like!

Get 10 FREE Lessons on The Elliott Wave Principle that Will Change the Way You Invest Forever.

This article was syndicated by Elliott Wave International and was originally published under the headline When One Pattern Ends, Another Begins. EWI is the world's largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

Reference: 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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