ShepWave Pre-Market / Intra Day Update for Tuedsay. GAP OPENS AND SHORT TERM PROFITS!
by ShepWave.com
Posted: 6/18/2018 22:59 EST
Intra Day Update for Tuesday:
Notice that this morning's gap down open for the Dow Industrials index is not filling--not yet anyway.
Be careful during these Summer months of trading and the easy volatility that is associated with them.
Remember we still have a potential critical TIME-CYCLE TURN DATE in the near future for the U.S. markets. This recent whip-saw activity is to be expected as a set-up of sorts.
Log In at www.shepwave.com for today's ShepWave Intra Day Update.
We are flooded with emails tonight.
Yes, the futures for the major U.S. equity indexes are (once again) in the red. Based on emails, those who followed the guidelines on Monday's gap down open had a profitable day of trading.
Note that there will be some guidelines to follow to protect yourself in these aggressive gap open trades. And remember as well--eventually we could see an actual ISLAND REVERSAL in which we would not anticipate the gap filling.
The Pre-market / Intra Day Update for Tuesday will be published shortly. We just wanted to send an email to those active traders at ShepWave to say, yes, we are aware of the futures at this time.
Futures are still down as they were earlier. Remember the default view on a gap down open. Also, remember the possibility of an ISLAND REVERSAL (bearish) pattern.
ShepWave regular subscribers and traders can recall recently--that beautiful ISLAND REVERSAL set up we saw in the QQQ/NDX in March not only give us a highly profitable short to mid term bearish position but lead to a key support line being hit on the morning of MAY 3rd when we most recently gave a call to BUY!.
You Just Can't Make This Stuff UP!
Remember the key TIME-CYCLE TURN DATE coming up. We should expect some volatility going into that date.
Log In at www.shepwave.com for the Pre-market / Intra Day ShepWave Update.
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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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