ChartsEdge (US equities) map for 12/11

Thanks again to Mike Korell and his ChartsEdge forecasting - here's today's intraday BP map from ChartsEdge Daily Maps (remember, their Pattern Recognition intraday map for today is at their subscriber site). Their two types of intraday cycle forecast maps, plus their weekly cycle forecasts (use "ChartsEdge weekly" label most days - today, Mike provided the Friday "slice" out of it, below), gain predictive power when they all look similar - follow links on their site for details, and much of that info is also posted at my NB3 blogspot - links above and at right).

If you've been watching the US equities markets at all you've noticed that they've been trading in a range. The close parameters being SPX 1084/1082 below, and 1107/1112/1119 (1122) above. Many eyes are on SPX 1122 because of it being the 50% retrace-to-2007-peak area. Then there are higher levels like 1133 and even higher - but the point right now is, whether and when we break out of the range ... And in which direction. We're not going to assume it breaks to the upside. Because other indices like the Dow, Russell 2000 and Nasdaq already rang their important Fibonacci retrace levels. Not a guarantee the rally is done, but the bull case isn't a lock either.

Well without further ado - happy market navigating today! Remember it's Friday, the day the market normally prefers to leave the most options open (just a manner of speaking!), so get to where you can close your trading book this afternoon and enjoy the evening. So, here's today's ChartsEdge:
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