ShepWave Monday Update Published. Critical Technicals Occuring in U.S. Indexes. VIX hits a low not seen since the All Time Highs for Dow Indu and SPX set October 2007. Stock Market Technical Analysis. Elliott Wave Theory.
by ShepWave.com
Posted: 5/17/2008 21:35 EST

There are some very interesting technicals occuring in the indexes currently.  The DOW has hit our recent target of the 50 week moving average as well as the 200 day moving average.  But, has failed to have a follow through to the upside.  The S&P 500 Index has NOT hit the 50 week moving average OR the 200 Day Moving Average.  The S&P has also failed (SO FAR) to hit the 61.8% Fibonacci Retracement target of the down move from the All Time high set last October.  Will the S&P hit these critical bounce targets?  Will the DOW Transportation Index hit a new all time high after coming within 62 points of breaking the All Time High set  in July 2007? 

Also, a key technical to note:  the VIX (Volatilty Index) has hit 16.30 in recent trading.  When the Dow Industrials Index and the S&P 500 Index hit their all time highs in October 2007 the VIX went to 16.12.  Is this indicating a SELLING OPPORTUNITY?  See the trigger and trade targets in  tonight's ShepWave Update.

Go to http://www.shepwave.com/ for Monday's Regular Scheduled ShepWave Update.

 

U.S. MARKETS 1st quarter: Steepest decline in 5 years U.S. equity indexes snap three-day losing streak with Monday's advances, yet they finish the first quarter of 2008 with the markets'  steepest declines in the past five years

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Go to www.shepwave.com for Updates.  Trend Analysis, Elliott Wave Theory, Fibonacci Retracement and Fibonacci Extension Targets, Trade Triggers and Targets shown. QQQQ Trade Signals.

 

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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.

 

 Stock Market Technical Analysis.  Elliott Wave Theory.

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