ShepWave Pre-Market / Intra Day Update for Friday Published
by ShepWave.com
Posted: 10/18/2018 16:54 EST

As given for three Friday's ago, September 28th, we commented that many of our ShepWave traders had begun opening aggressive bearish positions related to the NDX/QQQ and RUT.  These positions were based on short term aggressive SELL SIGNALS given by ShepWave and were followed by more sell signals as we saw beginning last week.

SINCE that time we saw the perfect-storm set up by the Dow Industrials index finally hitting a new all time high and showing bearish divergence on the weekly and daily time frames--this was a critical prerequisite to any reliable bearish signals!

Now we need to be paying close attention to all technical factors and not taking anything for granted.

The key to using short term aggressive triggers and targets is NOT to confuse those with the mid term or longer term triggers and targets.

For now we need to pay close attention to the short term Fibonacci Retracement targets given for the past week--also the RSI readings and lack of positive divergence in some cases--and of course we need to continue watching how the wave formations unfold.

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