ShepWave Pre-Market Update for Friday Published. Dow Transportation Index came with in 82 points of a new all time high Thursday. Stock Market Technical Analysis. Elliott Wave Theory.
by ShepWave.com
Posted: 5/15/2008 20:55 EST
We saw some critical trend lines and targets hit on Thursday. The Dow Transportation Index came within 82 points of hitting a new all time high. Will we need to see a new high in this index? Will Crude Oil and the Dow Transportation Index keep up the rally strength supporting a BUY SIGNAL according to The DOW THEORY?
We are now seeing bearish divegence on the critical 60 min time frame for the QQQQ (NDX). Is this an indication that $50.00 is a key resistance area and that we have hit a key mid term top?
Go to www.shepwave.com for Friday's Pre-Market ShepWave Update.
the fed
Fed chief drops
the 'R' word
Ben Bernanke concedes the economy finds itself in a very difficult phase. Growth outlook, he says, has worsened in 2008, and recession can't be ruled out.
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For trading strategies, Trade Signals, Triggers, Targets, Charting and Elliott Wave Theory Analysis go to http://www.shepwave.com/
QQQQ Trades Opened including Options Trade, BAC (Bank of America) Options Trade, AAPL (Apple) Options Trade, PMCS Short to Mid Term Trade and Dow Industrials and S&P 500 analysis.
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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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