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.
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ShepWave Pre-Market / Intra Day Update for Friday. NEW WEDGE PATTERNS in Equity Indexes!
Posted: 3/8/2018 22:17 EST


It has been a busy week.  From the panic of the futures being down several hundreds of points Wednesday morning--and creating a buying opportunity--to today's gap up open, which will  have its own implications, at some time: the markets are not for the weak and timid!

As conveyed earlier today--ShepWave tries to be careful in presenting very aggressive trading opportunities due to the fact that some of you are not able to put in a stop/loss area if it goes the wrong way.

The short term bullish signals continue to win out.   THIS WILL CHANGE AGAIN.  Just be careful in making the wrong assumptions as to when it will change.

As mentioned to some of you--we do plan on implementing some Intra-Day workshops in which you can email questions during the day and we will reply with some possible trading strategies at that time.  We are in the process of cleaning up our subscription base and will be implementing that some time soon--hopefully by this summer.

Log In at for today's Intra Day ShepWave Update.

We have identified yet a NEW short term wedge pattern. (Yes, again!)

This week is one in which--one must be following along closely!


Remember the futures for Wednesday morning?  Based on the emotional reaction of some pundits you would have thought the world was ending. What did ShepWave do?  WE BOUGHT THE GAP DOWN OPEN!   But that was a short term trade--things are changing rapidly!

Is the market in a doomsday--crash mode?  NO!  Well not yet anyway--but we'll see.

Do not be na´ve.

TURN OFF THE CNBC!  Seriously!

Log In at for Friday's Pre-market / Intra Day ShepWave Update.


$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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