Sunday, June 12, 2011

ChartsEdge week-ahead cycle-based forecasts for equities & gold

Below are the cycle-based stock market and gold forecasts from Mike Korell's ChartsEdge, for this upcoming week. Remember that it's primarily to get a sense for highs and lows, not necessarily absolute price levels. It's interesting that for this traditionally bullish options expiration (opex) week, the cycles seem to agree on a rally by the end of the week. Maybe it'll help position the market better for the typical 2Q/first-half of the year "window-dressing markup". Although we can't rule out weakness after this week (the post-opex week is traditionally weak), or in July (although we'd hope for some strength in the new-month, new-money first few days going into the July 4 Independence Day holiday)!

But enough of my comments - back to ChartsEdge. While the month- and quarter-ahead guidance, along with day-ahead forecast charts, are reserved for subscribers, the week-ahead set is shared publicly, see below (thanks again, Mike!). ChartsEdge also incorporates data on solar cycles, geocosmics and geomagnetics. Their forecasts come in several types for subscribers using not just computer-analyzed cycles but also beta waves and pattern recognition. There's additional info on that at his website (and some is also at my "UBTNB3" blog), see links above and at the right side of the page here. At the very bottom are ChartsEdge's links for Facebook, etc., as well.
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