Mike Korell with his ChartsEdge keeps things interesting - thanks again Mike! Today he's providing a Trader Confidence Index (TCI) update for swing traders, plus his BP map for daytraders (remember the BP is a more robust forecast when it synchs up or "agrees with" with his Pattern Recognition map when available, plus today's portion of his weekly cycle-based forecast chart (which you can always locate here too, using the "ChartsEdge weekly" label)). The TCI pointing a high in 1-2 trading days implies that we may see a higher SPX level Friday or Monday. It'll still be interesting to determine whether we're seeing a wave 2 or X (whether or not exceeding SPX 1104), that sends equities to a higher low or lower low in early March, which could target 1030-1050 ... Will see! But back to the ChartsEdge forecasts - From Mike's Daily Maps site at http://www.chartsedge.com/wp/
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ChartsEdge BP Chart
Posted: February 18th, 2010 | Author: Mike Korell |
ChartsEdge TCI
Posted: February 18th, 2010 | Author: Mike Korell |Filed under:One-Day Market Map | No Comments »
I tried to read too much into the TCI chart last time. Best to ignore the small turns.
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