ShepWave IMPORTANT Updates for Thursday Published. TRIGGERS and WEDGE PATTERNS! EVEN IN THE VIX!?
by ShepWave.com
Posted: 5/10/2018 00:07 EST
1:00 PM ET USA THURSDAY. Intra Day Update Published:
ShepWave is receiving many emails about the BUY SIGNAL given last Thursday (late morning) for the equity indexes in general. Remember--this is a short--to--mid term BUY SIGNAL only. It is NOT a signal to be expecting a continued rally to Dow One Million! But as well--we never saw a long term sell signal.
We love it when our readers make a lot of money--but never think that a signal is good to infinity. That is how traders lose money!
Wedge patterns (as we identified) have limits to their ranges--once triggered. Plus note that the VIX has an inverse wedge pattern; the RUT has a possible Flag (or Pennant). Things are heating up--and as ShepWave has anticipated--the volatility has really just begun.
Maintain objectivity and be ready for the next reversal which--based on some emails--is going to come much sooner than a lot of traders anticipate.
STAY READY! STAY OBJECTIVE!
Log In at www.shepwave.com for today's Intra Day ShepWave Update.
The indexes remain volatile--but predictable--and therefore profitable, for traders paying attention. Please read the Regular ShepWave Update for Thursday before reading the Pre-Market / Intra Day ShepWave Update for Thursday.
There is a reason why we publish both the Regular Update for Thursday, showing the daily time frame charts and analysis, as well as the Pre-Market Update for Thursday, showing the more aggressive time frame analysis.
The Regular Update for Thursday has been published. This Update shows the critical daily time frame technical analysis for the Dow Indu, Dow Trans, SPX, NDX, RUT, WTI (CRUDE OIL), GOLD, and the VIX.
The markets have been highly predictable lately--catching some key volatile swings.
IMPORTANT: please regard seriously the critical wedge patterns we have been seeing in the major U.S. equity indexes (primarily in the SPX daily chart) and the wedge pattern in the daily chart of the VIX. This presents a situation that many analysts are not taking into account.
This is a very rare combination of wedge patterns which are inherently volatile. Be Ready for more whip-saw market activity. (Also--note the wedge or flag pattern in the daily time frame chart for the Russell 2000 index. Anyone who has been trading for any amount of time at all should recognize the potentially volatile situation we have currently.)
Log In at www.shepwave.com for Thursday's Regular ShepWave Update.
ALSO--the Pre-Market / Intra Day Update for Thursday has been published.
| 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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