Market crash possible? There are some who think so, and Mike Korell of ChartsEdge is discussing it, so check it out. Maybe my suggestions last week of a "wave c" down that continues after a small internal second-wave bounce up? Well several analyses were posted this weekend, except I couldn't manage time to put up Andre Gratian's yet - look for that here, later today!
Meantime, below are important posts available from ChartsEdge (thanks again Mike!) at his http://www.chartsedge.com/wp/
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Pattern Recognition Test
Posted: June 28th, 2010 | Author: Mike Korell | Filed under: One-Day Market Map | No Comments »As you may know, I compare recent trading to what has happened in the past and then rank the results to create the daily pattern recognition forecast chart. Simple stuff.
I look at the best 21 results. There are usually at least that many which fall into the 'near perfect match' category. Today there were only 9, so I added candidates with less perfect scores to create the chart. I was wondering how much this might influence the outcome, so I decided to do a little experiment. I excluded the 9 best matches and took the next 21 less than perfect matches… (drum roll)
The results were the same.
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