ShepWave Pre-Market / Intra Day Update for Friday Published.
by ShepWave.com
Posted: 5/17/2018 23:23 EST
If there were one characteristic of traders that is the cause of more losses--it is expecting a good trade to get better (unjustifiably); and not having the discipline to lock in profits.
The action of the past few days has seen some Island Gap patterns--and yet the Russell 2000 (small cap) index is making new highs. We should be careful not to read-in too many incorrect implications of this variation between the indexes.
REMEMBER--the wedge pattern in the SPX daily time frame (for example) is being countered in a sense by an inverse wedge pattern in the VIX. More Volatility IS Coming!
STAY OBJECTIVE!
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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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