ShepWave Update Published. More SELLING coming or a mid term rally? Stock Market Technical Analysis. Elliott Wave Theory.
by ShepWave.com
Posted: 7/9/2008 19:22 EST

If you read the Pre-market update for Wednesday then you were not surprised at all by the market sell off in Wednesday's trading session.  So, now what?  Have we completed a mid term downward move.  OR is there one more quick downward move down before we can BUY for a posssible Mid Term Trade?  Read the notes in tonight's update closely.  More short term Fibonaccci Extension targets are shown.  Also, review the recently published Regular Scheduled Updates for Mid to Longer term Fibonacci Retracement and Extension targets.  Key market technicals are occuring on the Weekly and Monthly time frames.   Are the markets beginning to 'heat up'? 

Be sure to read the Regular Scheduled Update for Thursday morning as well.  Vital information as to mid term trend and in using the VIX (Volatility Index) to base trades.

Go to www.shepwave.com for ShepWave Updates.

The Regular Scheduled ShepWave Update for Thursday morning has been published.  ShepWave discusses the current Mid Term Elliott Wave Possibilities and Fibonacci Retracement/ Extension Targets.  We use the S&P 500 Index in tonight's update to illustrate the current market conditions and targets.  Remember, as stated by ShepWave many times in the past; The Analysis of the S&P 500 Index is important to any trader/investor no matter what actual vehicle one is trading or the time frame of one's trades.

It was the short term wave action from the Monday Lows to the Wednesday intra day highs that showed us the potential for Wednesday afternoon's Down Turn.  Read the Intra Day Notes from Wednesday.  I cannot understate the importance of watching short term wave action for confirmation of the longer term trend. 

Just a side note:  I don't watch Financial Television much.  Usually when I do it is with the Sound OFF.  I have to advise caution in using the 'emotions' of the Financial Pundits as shown on Television as a basis of trading.  The Purpose of ShepWave is to EDUCATE traders/ investors of disciplined/objective trading methods.  Granted, I am sure some of our subscribers use us as a 'black box' trading system; that is fine as long as they implement their own risk tolerance and trading style.  But more importantly I suggest using ShepWave as an educational tool to learn the rules of technical trading.  If you are not a subscriber of ShepWave and don't want to be then I reccommend going to a disciplined/objective source for your analysis and technical training.  Elliott Wave International offers FREE programs and trading courses including a Detailed Elliott Wave Tutorial offered to anyone who signs up for Club EWI.  You can find many links for Club EWI on the home page of ShepWave.

Go to www.shepwave.com for tonight's ShepWave Update or to click on a link to direct you to CLUB EWI (again it is FREE).  But I urge you to do something to aid in maintaining objective/disciplined trading methods.

Enjoy your evening.

Shep

 

U.S. MARKETS
Finally, June's over
Mixed session ends worst June since Great Depression, with Dow eking out a small gain. S&P 500 ends on  upbeat note, but Nasdaq loses 1%.

 

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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For trading strategies, Trade Signals, Triggers, Targets, Charting and Elliott Wave Theory Analysis go to http://www.shepwave.com/

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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.

 

 Stock Market Technical Analysis.  Elliott Wave Theory.

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Starting in August ShepWave began Publishing Intra Day Updates with short term analysis 'mainly' concentrating in the QQQQ but also showing the other indexes and individual Stock analysis.  This EXTRA service will have an additional charge to the Regular ShepWave Subscription eventually.  Those already Subscribed to ShepWave will be EXEMPT from any additional charge for this service when it is added in the future.

 

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