ChartsEdge map for 5/19; and their additional comments on these daily forecasts

Market Map for May19

Posted: May 19th, 2009
Author: Mike Korell
Filed under: One-Day Market Map Comments to ChartsEdge »

As with all things having to do with price movement in the stock market, changes forced me to throw out the old algorithm used to create these charts and search for a new fit. Today’s chart represents a new approach to the calculation. In backtesting this, it became apparrent that there is a 1-day shift which occurs every 4-weeks.

My first take on that is that the lunar cycle is tied to this change. Not so. Up until yesterday, the most recent of these shifts, it occurred on the first Monday after a Full moon. Yesterday did not fit that pattern since May 9th was the full moon. The shifts always occur on Monday and coincide with a large move in the markets… check it out. I now have 3-weeks to determine how far this shift goes before it changes direction and shifts the other way. The clock is ticking.

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Thanks once again, Mike and ChartsEdge! I think we all noticed that yesterday was "off the map" so this is very helpful. It's definitely a neat forecast to have available.