ShepWave Intra Day Update for Monday. AGAIN, YOU JUST CAN'T MAKE THIS STUFF UP!
by ShepWave.com
Posted: 9/18/2017 11:01 EST
Once Again, YOU JUST CAN'T MAKE THIS STUFF UP!
We now seemingly have the third gap-up-open that was seen as a possible pattern and identified a few weeks ago. (See 60 min SPY notes.)
So now what? Will the indexes shoot-to-the-moon and continue to rally? Possibly. If we rule that potential out then we are being naïve and baseless in our analysis.
Or is this three-gap-open an ending pattern?
There are some short term preferred patterns that I am watching closely. One clue, is that the QQQ/NDX have not given the same signals and shown the same activity as we have been seeing (mainly) in the SPY/SPX, and Dow Industrials indexes.
Remember I mentioned playing the Straddle and/or Strangle options plays for those of you more astute options traders?
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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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