ShepWave Updates for Monday. GOLD sees OUTSIDE DOWN WEEK! TIME-CYCLE TURN DATE COMING FOR EQUITIES?!.
by ShepWave.com
Posted: 6/15/2018 23:01 EST
ALL UPDATES FOR MONDAY PUBLISHED. The Pre-market / Intra Day Update for Monday has now been published. Remember this week is critical for technicals. We have the Russell 2000 index hitting new all time highs and also we have some potentially critical short--to--mid term technical patterns seen in Crude Oil (WTI). These will have an influence on the major U.S. equity indexes. The key for this week is to see how the potential ISLAND patterns set up. Island Patterns are a favorite of ShepWave.com. Watch Monday's open carefully. As of now (10:40 PM ET USA) the futures are in the negative. Remember--the initial default view when there is a gap down open in the markets. In particular--carefully read the new notes in the 60 minute DOW INDUSTRIALS chart regarding a possible Island Pattern, and the notes in the 60 minute Russell 2000 chart regarding the wedge pattern there, and an aggressive signal. Log In at http://www.shepwave.com/ for Monday's Pre-Market / Intra Day ShepWave Update.
The Second ShepWave Update for Monday has been published.
The Regular Update, showing daily time frame analysis and triggers for the major U.S. equity indexes; Crude Oil: GOLD; and the VIX.
IMPLICATIONS (and contradictions) of new all-time highs in the RUSSELL 2000 and NASDAQ indexes, and the OUTISDE-DOWN WEEK technical pattern of a few weeks ago in WTI CRUDE OIL need to be taken seriously!
Now we also have an OUTISDE DOWN WEEK technical pattern in Gold.
The range of the past several weeks for the major U.S. equity indexes will end! Be ready!
It is recommended for new subscribers to go through past updates to get a feel for what technical information has brought us up to this point.
ShepWave analysis is always building upon previous technicals and analysis.
As a note of caution: There are a lot of analysts who try to predict wave counts. Please be careful of doing that. It is good to understand the dynamics and underlying principles of Elliott Wave Theory but in the labeling of wave patterns, remember that no pattern or wave count is official until the next wave series begins. So many otherwise really good analysts seem not to understand this simple concept with regards to Elliott Wave Theory. The key is to follow the appropriate Trade Triggers as given by ShepWave analysis.
Log In at www.shepwave.com for Monday's ShepWave Updates.
The Special ShepWave Update for Monday has been published. This update shows the weekly time frame analysis for the major U.S. equity indexes as well as for Crude Oil and for Gold.
A lot of traders/investors/analysts have been trying to call the top in the major U.S. equity indexes for years now--only to fail attempt after attempt. Please read the notes in this update carefully. Remember, any bullish or bearish implications we are seeing on the weekly time frame for equities need to be kept in context when considering shorter term trades.
CRUDE OIL TRADERS--as of the week ending 5/25/2018 WTI Crude Oil saw an OUTSIDE DOWN WEEK pattern. See how the action has unfolded since that time. It is important to pay close attention to the implications that crude oil can have on the equity indexes.
Remember also--there is a potential CRITICAL TIME-CYCLE TURN DATE coming up soon. Things will get shaken up a bit. For now the markets are fine-tuning the manner in which they will get shaken up.
Important Pattern in GOLD. As of this past week, GOLD saw an OUTSIDE DOWN week. Be careful making assumptions based off of the outside down week we saw in WTI Crude Oil several weeks and the ease with which we predicted the mid term direction in Crude Oil. GOLD is in a different situation--BE READY! (And yes, it is likely related to the move in the $US. That is one reason why we will need to be careful not to make the wrong assumptions at this time.)
We hope everyone is enjoying their weekend.
Log In at www.shepwave.com for Monday's ShepWave Updates.
IMPORTANT: the implications we will see in the weekly charts of the Russell 2000 and Nasdaq Indexes making new all time highs need to be taken carefully. Remember there is a potential critical TIME-CYCLE TURN DATE coming soon!
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ShepWave.com
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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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