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ShepWave All Updates for Monday Published. Expect Sudden Whip-Saw Activity in Coming Weeks. OUTSIDE-UP WEEK IN WTI CRUDE OIL!.
by ShepWave.com
Posted: 6/23/2018 01:03 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.

Watch Monday's open carefully. As of now (12:00 AM ET Monday, USA) the futures are in the negative. Remember what we *initially* look for as a default of sorts on gap down opens.

In particular--carefully read the new notes in the 60 minute DOW INDUSTRIALS chart regarding a possible Island Pattern from LAST MONDAY and the key short term projection to support that pattern; also, carefully read 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 need to be watched closely.

WTI-CRUDE OIL saw an OUTSIDE UP WEEK ending on June 22. Remember in May WTI saw an OUTSIDE DOWN WEEK. This is just one example of the volatility we should still be anticipating for the upcoming weeks.

Now we also have an OUTISDE DOWN WEEK technical pattern in Gold from two weeks ago--and this could change.

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

Regardless of any TIME-CYCLE TURN DATE speculations (or expectations) we may be tempted to have--we need to be playing the technicals as usual.

In the Special Update for Monday (already published) there are some additional notes regarding the upcoming possible TIME-CYCLE TURN DATE.

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.

Regarding the possible TIME-CYCLE TURN DATE:

Please--everyone stay objective and realize that these whip-saw moves we are seeing in the equity indexes and in the commodities were anticipated--and are common at key market junctures.

If you are making any assumptions for the upcoming potential TIME-CYCLE TURN DATE--and any possible effects it will have on the markets--FORGET IT! This is such an important time in the markets that we will need to take all of the signals as they come.

These next few weeks could be the most important few weeks we have seen a quite a while with regards to the major U.S. equity indexes and the commodities, namely, Gold and WTI CRUDE OIL.

Remember the Trump election of November 2016? The Dow Industrial futures were down over 1,000 points below fair value on the night of the election. That was the lowest they have been since. After that date we saw what had been a key resistance line become the major support line over the past year and a half.

So, please--DO NOT--make any assumptions as to the result that will come out of this possible TIME-CYCLE TURN DATE.

Point: the moment when you have everyone expecting a particular action or reaction out of the markets--you can just about always count on the opposite happening.

Just an example: remember we saw an OUTSIDE DOWN WEEK for WTI CRUDE OIL for the week ending on 5/25/2018--well this past week WTI CRUDE OIL saw an OUTSIDE UP WEEK.

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.

$169 SIX MONTH ShepWave Subscription Special.

15th Anniversary

ShepWave $169 SIX MONTH Subscription special for our valued customers will end soon. Thanks to all of our regular customers of 15 years. This special offer is being extended to any new subscribers as well, for a short time only. [To current up-to-date subscribers, the six months will automatically be added to your expiration date.]

15 Year Anniversary

Trouble Spotting Market Trends? This Can Help
Learn How You can Spot a Market Trend � Before it Starts

By Elliott Wave International

Let it be stated upfront that there is no perfect way to analyze and forecast financial markets. No crystal balls.

Yet, let's be just as quick to add that in Elliott Wave International's review of market analysis methods, none approach the utility of the Elliott wave model.

The reason for the Elliott wave model's usefulness is easily explained: Elliott waves are reflections of the repetitive patterns of investor psychology, which is the real driver of prices, not news or events.

And, what could be more useful to an investor than a method which helps to identify a financial market's trend -- especially before it gets underway? Well, mastering the Elliott wave model helps you to do just that.

The Wall Street classic book, Elliott Wave Principle: Key to Market Behavior by Frost & Prechter, says:

...action in the same direction as the one larger trend develops in five waves.

Here are illustrations:

TrendUpDown

Let's now learn how the Elliott wave model identifies countertrend moves within the main trend by returning to Elliiott Wave Principle and additional illustrations:

... reaction against the one larger trend develops in three waves.

Countertrend

Lastly, let's learn how Elliott wave analysis signals the resumption of the main trend.

Elliott Wave International analyst Jeffrey Kennedy says:

A complete Elliott wave cycle consists of eight waves. Upon its completion, a similar cycle ensues....

Again, here are illustrations of the point:

Eightwaves

The reason that a market's basic form is five waves followed by three waves is that this is the most efficient method of achieving both fluctuation and progress in linear movement.

Think of it as a variation of nature's "two steps forward, one step back" model of achieving progress.

After all, humans are a part of the natural world, so it only follows that the financial markets, a product of human interaction, would carry the same imprint.

As you might imagine, there are many more details in applying the Elliott Wave Principle to financial markets, and it took an entire book to lay them all out.

The purpose of this article is to simply show you that the price patterns of financial markets unfold according to a repetitive, predictable structure. Familiarity with that structure can help you determine what's next.

Jump on once-in-a-lifetime opportunities and avoid dangerous pitfalls that no one else sees coming. We can help you prepare for opportunities and side step risks that will surprise most investors. You can get deeper insights in Elliott Wave International's new free report: 5 "Tells" that the Markets Are About to Reverse. The insights that you'll gain are especially applicable to the price patterns of key financial markets, including the stock market, now.

Read the free report now.

This article was syndicated by Elliott Wave International and was originally published under the headline Trouble Spotting Market Trends? This Can Help. EWI is the world's largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

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.