Equities swing view watch: Comments from ChartsEdge and from T Theory

Folks, I'm heading early into meetings and should be tied up all day. Will post today's ChartsEdge map when I see it. Meantime, we remain on watch for either one more pop to SPX 1160+, or a move down that will produce a swing low to buy for a later move up. I was getting different impressions from some cycles views, and the Elliott Wave count is choppy as you know. So pending more "read" from equities, here are some reminders:

Remember that ChartsEdge made the following comments about the swing view in equities, on Tuesday at http://www.chartsedge.com/wp/

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Commentary

Posted: January 19th, 2010 | Author: Mike Korell | Filed under:One-Day Market Map | No Comments »

And here's their TCI link, though I don't see it updating yet:

Link to the Trader Confidence Index chart

Posted: January 18th, 2010 | Author: Mike Korell | Filed under:One-Day Market Map | No Comments »

TCI Chart

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And here's Terry Laundry's update at his T Theory Foundation: T Theory Calculations, Daily Updates, Charts and Data webpage, http://www.ttheoryfoundation.org/t-theory-calculations.html:

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8AM Jan 21 2010 Comment for Jan 20 Close: Forecast remains bullish until the S&P reaches the chart Objective at the upper red envelope, now S&P 1168-ish in the table.

Not much to be said at this point as there isn't sufficient indications of any bottom. Today's image above tells the basic story but if you click on the image a higher resolution picture will pop up and you can read the data table better. Arms is OK for a low but there is no oversold condition in the Volume oscillator. In time I will make the lower oscillator oversold criteria green to conform with the S&P envelopes, that is "Should be Green" to signify a buying opportunity is nearing.

This is a copy of his chart he's showing but you'll want to click and follow the link above to be on his site, and see it full resolution: