Monday, March 1, 2010

Stock market top likely based on sentiment; and other ChartsEdge guidance marked in forecast charts

The S&P 500 and other stock market indices are most likely at a near-term top, according to the sentiment-based research of Mike Korell at ChartsEdge. He appears to be seeing a similar outcome based on his cycle work, a portion of which I posted here yesterday as his week-ahead charts. Those cycle charts are showing how the cycles he analyzes are likely to produce relative high and low levels in the markets. Today, he's providing another set of explanatory comments, with data graphs and charts, as you can see below (thanks again Mike!) from his ChartsEdge Daily Maps site at http://www.chartsedge.com/wp/
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ChartsEdge: A new Trader Poll

Posted: March 1st, 2010 | Author: Mike Korell |
Filed under: One-Day Market Map | No Comments »

This chart is based on a daily poll of over 1000 active traders. The question is different than the original TCI chart. I have been doing the original poll fo a number of years, and have a pretty good feel for how it works. This data is new, so the chart is a little experimental. It indicates a short-term top… probably today.


ChartsEdge Daily Charts

Posted: March 1st, 2010 | Author: Mike Korell |
Filed under: One-Day Market Map | No Comments »


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