Saturday, February 21, 2009

Equities markets may keep most analysts guessing while marking time into new month-new money time

Here are the ChartsEdge cycle forecast for the upcoming week in the S&P 500 and Nasdaq equities markets. Looks consistent with either Tony Caldaro's Elliott Wave count, if this is all or a part of a small 2nd wave of his 3rd wave (or a 4th wave up, though less "fitting" I think) on Tony's S&P 500 chart; or, with this being all or part of a wave 2 up within a C wave down as on my main S&P 500 weekly chart; or could even be part of my new alternative idea of a C-wave up (although I'm truly not keen on this latter idea). Those subscribing to ChartsEdge's longer-term forecasts probably know how I'm tilting on this now, of course! [And I'll be most curious to see how it all unfolds as to the transports and banks, as I've been mentioning - they don't have to have the same wave pattern, so I'm very curious to see whether or not they go their own ways.]

So, here are the charts from ChartsEdge:

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