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ShepWave Thursday Morning Updates Published. Are the Highs in for Dow and S&P?
by ShepWave.com
Posted: 10/24/2007 23:52 EST

Note Posted at 2:00

I have published the Fibonacci Extension Targets for the expected short to mid term move for the QQQQ (NDX). Also, for those short term options traders who followed the QQQQ Options trade on Tuesday.. you can take profits today for a minimum of 20% profit. (not bad for two days).

Go to http://www.shepwave.com/ for updates and targets.

We have a set up for a TRADE ON OPEN short term position for the QQQQ for Thursday Morning. This depends on the Futures and the actual open.. but if conditions are right.. we will pull the trigger right out of the gate Thursday Morning.

Go to http://www.shepwave.com/ for Thursday Morning's Pre-Market Update showing the QQQQ Trade on Open.

Regular Scheduled Update for Thursday Morning Published.

Please always remember one thing. Elliott Wave Theory, and Technical Analysis for that matter, is NOT an exact science. When I show potential EWT counts these are only potential wave movement expectations. No EWT count is final until the next cycle begins. That is why I concentrate more on short, mid and long term BUY/SELL signals and use technical tools to determine targets for market moves. I sometimes don't even bother showing an EWT count due to the fact that there are many possibilities at that time.

Wednesday was a good day to be a Short Term or Day Trader. We saw a couple of clear short term signals which worked out well both for Selling SHORT and Buying LONG side positions. Wednesday was an 'ideal' trading day in my opinion. The volatility may remain with us for a while; so I will be keeping a close eye on potential profitable short term trades.

Tonight we take a look at some mid to long term targets and potential action. Will the Nasdaq 100 index hit the 38.2% Fibonacci Retracement target of the 2327 area from the all time high set in 2000 to the recent long term low set in October of 2002? Have we seen the All Time Highs for the Dow Industrials and S&P 500 Indexes?

Go to www.shepwave.com for Updates.

QQQQ Trades Opened including Options Trade, BAC (Bank of America) Options Trade, AAPL (Apple) Options Trade, and Dow Industrials analysis.

Stock Market Technical Analysis. Elliott Wave Theory.

ALSO: Click the Images Below to Join CLUB EWI.. A FREE service.

Click Here for an Interesting Article. Is the market going to Crash... will the U.S. see a Recession/Depression?

I have copied and pasted the article below from Market Watch below. Interesting that they would even mention the odds of a market crash.

OCTOBER TRADING STRATEGIES

Could it crash again?

Preserve, protect and profit during the 20th anniversary of the Crash of '87 with our dozen strategies for October � from sector plays, to futures picks, to the views of Cantor Fitzgerald's Marc Pado and Miller Tabak's Peter Boockvar, and more.
� Crash coming? Vote in our reader poll Poll

Click here for an interesting article by MSN Money.

Interesting Article:

GREENSPAN'S outlook
'Pretty gloomy'
"Re-emergence of inflation," rising interest rates are biggest long-term threats to U.S. economy, former Fed chairman tells "60 Minutes."

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Starting in August ShepWave began Publishing Intra Day Updates with short term analysis 'mainly' concentrating in the QQQQ but also showing the other indexes and individual Stock analysis. This EXTRA service will have an additional charge to the Regular ShepWave Subscription eventually. Those already Subscribed to ShepWave will be EXEMPT from any additional charge for this service when it is added in the future.

ShepWave provides the Services listed below for Less than $20/Month

Short, Mid and Long term Trading Analysis with Trade Entry Signals, Strategies, and Targets

Regular Scheduled Updates Published by Market open on Monday and Thursday.

Intra Day Updates for QQQQ, DOW,S&P 500 and selected individual stocks most every day.

Our purpose is to not only show potential trade set ups and the management of those trades but to TEACH objective disciplined methods of trading for any time frame.

QQQQ Trend Trading.

QQQQ Options.

Trading Stock Options.

Dow Industrials, S&P 500, Nasdaq Indexes, QQQQ, DIA and Selected Stocks Analysis

Email Notification of reports and trades if desired

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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.