Short-term and daytrading the S&P 500 and futures with ChartsEdge Market Maps

Folks, I just can't help pointing out how useful these ChartsEdge Market Maps are proving!

Those who have been reading here for a while should know by experience that on most days, they do a remarkable job of predicting the intraday action. Both in terms of time and in terms of direction - the accuracy is surprisingly good. Most days it's very close, other days it's skewed by an undercurrent of bias which normally shows itself early in the day. Today for example, you could tell by mid-morning that instead of higher highs ramping up to 12 noon, you were seeing lower highs so the intraday bias was to the downside.

Today was another example of the Market Map proving out very well. Sure, the initial rise wasn't as strong (presaged by how the futures reacted this morning to the CPI numbers). But the real predicted trading action was the forecast drop into mid-day and subsequent afternoon rally - which really stands out in the charts. So I've re-posted the Market Map that ChartsEdge produced about 7:30 am this morning (which you can always get directly from their site, including by their site feed at right) and which I always post up here as soon as I can, most days about 8:00 am or at least by the open. (Those few days I cannot get it posted by the market open, just check the ChartsEdge site or site feed at the right side of the page.)

So you can see how well that predicted drop into mid-day and afternoon rally played out, comparing with the actual intraday action of the S&P 500 (the smaller chart upper left, which I copied from that little S&P index gadget I also keep at the right side of this page).

What more could you ask for?!! It's a beautiful thing! Congrats and thanks to ChartsEdge's Mike Korell for all your amazing research and hard work, and the incredible results you make available for traders!