ShepWave Pre-Market / Intra Day Update for Wednesday Published.
Posted: 4/10/2018 23:56 EST
INTRA DAY UPDATE FOR WEDNESDAY:
The current wedge pattern as identified is bringing action as anticipated--but it is not working out as quickly as we would have liked.
See new notes in today's Intra Day ShepWave Update.
Log In at www.shepwave.com for today's Intra Day ShepWave Update.
Another major market move is brewing.
The whip-saw activity of the past few weeks should pale in comparison with the next move.
If you have been following along and saw the all time highs in the Dow Industrials and SPX hit in late January coincided with a key TIME-CYCLE TURN DATE; and then saw the Island Reversal SELL SIGNAL (primarily for the QQQ/NDX) triggered on March 19th--then you also know that we were anticipating the recent whip-saw (range-bound) activity.
As of now (11:40 PM ET USA) the futures for the major U.S. equity indexes are down.
Keep in mind the preferred gap plays---as given by ShepWave previously.
Notice the potential NEWLY IDENTIFIED short term wedge patterns.
Please read the notes carefully--the possible gap down open and the wedge patterns could be indicating how the short term whip-saw market activity could continue for the short term.
Things could be heating up in a major way. IMPORTANT: also look for what we are watching to contradict this preferred view of the major U.S. equity indexes.
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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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