Thanks to Mike Korell and his ChartsEdge - here's his Pattern Recognition map for today. Maybe today we'll find out if the equities indices need to poke a new high on this move (although they could also postpone the "decision" by some more intraday consolidation). Normally I'd expect a second wave up from this drop to take another day or so and get a bit higher, to 1110 or 1120 areas, but that doesn't have to be the case. Also, the move can take that extra time and not go higher; conversely, we could see the move continue into next week (and move higher, or not); and I could see 2 ways the SPX may go lower before another move higher - all from my Elliott Wave understanding. So - here's today's map from Mike's ChartsEdge Daily Maps site page, http://www.chartsedge.com/wp/
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Pattern Recognition
Posted: February 3rd, 2010 | Author: Mike Korell |Filed under:One-Day Market Map | No Comments »
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