ChartsEdge innovates again with geomagnetically-based BP cycle charts for the stock market

Now that it's Thursday, I'll share something that Mike Korell had posted to his subscriber site for the day-by-day/intraday views. It's another innovation in his geomagnetically-based BP (beta particle) cycle charts to forecast stock market movement for indices like the S&P 500 index ($SPX). Below are his comments about it along with the chart he describes. Always interesting!! If you aren't already a subscriber, you can get info at his main page or intraday maps page (both in the list at right), http://www.chartsedge.com/wp/

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CHARTSEDGE:

This chart is something completely different. It is based on the BP data which is derived from a geomagnetic sensor. The initial testing of this technique looks very promising. There are several improvements over the old BP charts. The forecasted time period is a full week. The Y-axis is labeled for the S&P 500. The time increment is 15-minutes which allows for smaller changes to be discerned. The market tends to be 'controlled' near the end of the day, so while a move shown on the chart during the last hour may not be correct, look for the market to correct itself at the open of the following day. This week appears to be an expanding triangle. This pattern many times precedes a move lower.