Friday, February 5, 2010

ChartsEdge Pattern Recognition map with good confidence for equities on Friday, Feb. 5

Turn away from the TV pundits and look at today's Pattern Recognition map for equities from ChartsEdge. Notice that once again, its confidence value is over 100 (actually above 200), as it's been for the past few days. Now - if their "swing view" TCI index is right that we'll see a stock market high today or Monday - then any low that gets put in today might give way next week. (I wondered if it should be read as a low today or Monday, but don't see Mike saying so; thus must assume it suggests an intermediate high - that's just my take.) So as always, how you play it depends on your trading time frame and style. Thanks to Mike Korell, from his ChartsEdge Daily Maps webpage at

Pattern Recognition

Posted: February 5th, 2010 | Author: Mike Korell |

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