ShepWave ALL Updates for Monday Published. Will This Rally Pick Up Steam--or Come Crashing Down?
by ShepWave.com
Posted: 9/22/2018 00:43 EST
Pre-Market / Intra Day Update for Monday Published: This third and final update for Monday contains the critical 60 minute charts that have been giving reliable trading clarity for short-to-mid term traders. Please be sure to read all of the notes in all of the charts that have been already published for Monday including the Weekly and Daily time frame charts and analysis. Then read all of the notes in the charts in this Pre-Market / Intra Day Update for Monday. Markets remain predictable for those paying attention. Focus on Monday's open--is the size (percentage) of a gap down open, in the event that we do see one. ISLAND REVERSALS are common at key transitions and can lead to head-fakes not realized to inexperienced traders. ALSO--the FOMC meetings this week could see a seeming causal reaction. Log In at http://www.shepwave.com/ for Monday's ShepWave Updates. THREE IN TOTAL!
Regular Update for Monday published.
Remember what ShepWave said on May 3, 2018 intra day? It is so critical to be paying attention to the short term signals as well as the daily time frame charts.
Here is the intra day note from May 3, 2018 and remember we made a similar call on June 28, 2018. AGAIN, YOU JUST CAN'T MAKE THIS STUFF UP:
May 3, 3018 11:52 AM ET USA. Intra Day Update.
The charts below have been refreshed. A new note has been placed in the 15 min SPY chart.
IMPORTANT--NOTICE--this action today is (so far) simply a short term aggressive sell signal. In fact if you look at the key trend / support lines as shown in the daily SPX and Dow Transportation Charts the lows of today are testing those key support lines. (See Regular ShepWave Updates containing the daily time frame charts.)
TRADER NOTE:
So--with all of that understood; if one is a mid term trader (perhaps one who is limited in how often he can trade)--this is a good opportunity to BUY (or go long the SPX or TRANS for example) and use a double break of the key support lines as demonstrated in the Daily charts as your maximum stop/loss.
We will not definitely bounce from these areas--but as of now we do not have a sell signal on the daily time frame.
We at ShepWave have received many emails from those who caught these short term bounce areas and have made a lot of profits. The key--especially with the indexes hitting new all time highs--is to be paying attention to the key short term patterns; i.e. wedge patterns.
Log In at http://www.shepwave.com/ for Monday's ShepWave Updates.
SPECIAL ShepWave Update for Monday Published: Weekly Time Frame analysis for the Major U.S. equity Indexes as well as WTI CRUDE-OIL and GOLD has been published.
We at ShepWave have rarely had to change the analysis on the weekly time frames over the past several weeks--maybe even months--for the equity indexes. This should be telling you something.
Those who follow the DOW-THEORY, either be-ready, or beware.
| 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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