Perceptions from May of 2007:
Four months ago, we presented Bullish: Like There's No Tomorrow, which presented a bullish view and critical-mass-breakout buying opportunity for long term-investors interested in capturing further upside potential in the Wilshire 5000 index.

We don't get fooled again:
Those adhering to the general protocols outlined in that piece are flat - as they now hold this index sternly to task - awaiting a long-side re-entry signal upon a close back above the 14991.68 level.

Going Forward:
All now rests upon the success or failure of more pie-in-the-sky interventions designed to abate a yet to be quantified risk, which now permeates through the financial-sphere with the threat of a terminal cancer.

Investors:
Adopting prudent long-term measures of austerity as outlined in our Wilshire 5000 link from May - is essential to successful investing, and is the type of guidance regularly highlighted in our longer-term studies.

Traders:
Those navigating in and out of broad market indices seeking short-term speculative profits will continue to do well in strictly adhering to the price-action, which if interpreted properly, telegraphs the markets short-term intentions with stunning accuracy - as evidenced in our chart below.

Below is an actual price chart, which will appear in the "Outlook" for Tuesday 9-4-07:
The chart below documents standing short-term trade-triggers and price-targets as captured from Elliott Wave Technology's Near Term Outlook.

For active traders of all time-horizons, there is no better road map for navigating broad market indices than the Near Term Outlook.

The Week in Review:

The NASDAQ 100

The NDX:
Up against resistance in its eighth-week of correction, fresh highs into the coming week may prove bearish, while an immediate sell-off to re-test the lows will likely turn the NDX more bullish near term.

That said; let's see how the balance of broad market indices' faired in closing out the month of August:

As the financial-sphere attempts to quantify known-risks vs pending interventions, it is likely that The Dollar remain under pressure for the next couple of weeks.

The Dow has managed a respectable bounce off the lows, but remains at the lower end of its former range from May/June.

Gold continues to chomp at the bit in its quest toward breaking decisively above the large overhead triangle boundary of resistance.

Unlike the Dow, The S&P has been unsuccessful in reclaiming the lower end of it former May/June range.

Should readers have interest in obtaining access to Elliott Wave Technology's blog-page, kindly forward the author your e-mail address for private invitation.

For the first week in September, readers may visit our blog @ http://elliottwavetechnology.blogspot.com/ with out the need to request invitation.

Visitors to the blog are encouraged to browse all of the page-archives to acquire a better sense of our unique brand of analysis and forecasting services.

Until next time ...

Trade Better / Invest Smarter...