ShepWave CRITICAL Regular Update for Thursdsay. Daily Time Frame charts. Wedge Patterns--even in the VIX!
Posted: 5/16/2018 18:05 EST
The indexes remain volatile--but predictable--and therefore profitable, for traders paying attention.
ShepWave has been in communication with a few of our long time subscribers and fellow analysts. The Oil Analyst whom we refer to as Mr. T. has given us perhaps some correlating analysis to what we see in the daily time frame charts. Notice the important newly added green trend line as added to the daily SPX chart. Notice how this coincides with the similar trend lines given previously in the daily $NDX and $TRAN charts.
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 now been published. Be ready.
|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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