Sunday, November 20, 2011

Chartsedge's 11/21/11 week forecast for equities & gold

This week's forecast from ChartsEdge suggests a positive bias into the Thanksgiving holiday.* We'll see if traders are already angling for the December new-month new money inflows, too...! Below you'll see ChartsEdge's weekly cycle-based forecasts for equities indices and gold this week (thanks again, Mike Korell!). These are mainly a guide for highs and lows, not necessarily absolute price levels. Their month- and quarter-ahead guidance, along with daily forecast charts, are reserved for subscribers. ChartsEdge incorporates computer-analyzed cycles, pattern recognition, data on solar cycles, geocosmics and geomagnetics.

*Don't mind that the SPX chart title says the week of the 14th; as you can see in the days marked along its bottom, this is for this upcoming week of the 21st.

PS: if you'll note, the shape of last week worked out well through Thursday, although the slope was more neutral and finally bearish as the stock market couldn't hold up. That's why I point out that the forecast highs and lows should be viewed as relative. Just my comment, and that's how their forecasts work well for me.

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