Chartsedge BP for 12/10

BP2 Forecast Chart - Dec10
Posted: December 10th, 2008


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Folks, it looks like the BP chart did a real nice "job" yesterday mapping out the equities markets' action that unfolded. Remember their explanation of how to use it - the actual level of the intraday cycle highs and lows may be different than indicated, so once you establish during the day that, for example, that first rise wasn't as high as indicated, that clued you in that the remaining action of the day would also be weaker than indicated. So, the intraday cycle high toward the end of the day, was also relatively weak. Interestingly, this caused the BP chart to "fit" well with the Chartsedge weekly cycle chart.

Now, as I commented yesterday, I am very curious again to see how the BP chart will interrelate, if at all, with the Chartsedge weekly cycle chart which indicated a downtrending week.

In addition, Tony Caldaro's 912 resistance number seems to have really "worked" as the markets tested up by that area and fell off. I'm sure there remain more than one viable EW counts for what the equities markets are tracing out ... I've been playing with the idea of the rise still being part of a B wave in an expanded flat, but the length of time being taken up by this as a B wave seems "too long" to me. Tony's count is that the markets are working on a C wave up after tracing out an A up, and then last week being a B down. (And there are some other potential EW counts that can be theorized.) Once again, we'll see!

Also - remember to look for any BP chart updates, which will be indicated by the Chartsedge RSS feed under the "other sites of interest" links to the right. (Above the news feed links also along the right side of this page, where you can select news by the topics shown as links.)