Sunday, October 2, 2011

ChartsEdge forecasts for 10/3/11 week in equities and gold

Like last week, I ask - Will we see an important low this week, for new swing long entries in the stock indices (and precious metals)? Personally I think last Tuesday, the stock market moved too fast into the level that Mike Korell's ChartsEdge had predicted. So all it could do was trend, but in the opposite direction; just my guess. Now we'll see again if the cycles can dig a trough to buy. Below are ChartsEdge's forecasts for the upcoming week (thanks again, Mike!). As we've explained before, these are mainly a guide for highs and lows, not necessarily absolute price levels. 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. ChartsEdge also incorporates data on solar cycles, geocosmics and geomagnetics. The forecasts come in several types for subscribers using not just computer-analyzed cycles but also beta (and sometimes alpha) wave-based charts and pattern recognition forecasts. 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.

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