ChartsEdge (U.S. equities) map for 5/7

Market Map for May07

Posted: May 7th, 2009
Author: Mike Korell
Filed under: One-Day Market Map Comments to ChartsEdge »


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Thanks, Mike and ChartsEdge!
Folks, remember that information about their daily maps can be located at Chartsedge Daily Market Maps; and I've also included some of their explanatory material at my "trading education" NB3 site (see link in the welcome section at upper right side of the page here).

One of the main point to remember being, that we're to consider these charts for their timing value. The absolute levels may or may not work out - sometimes a high that looks higher on these maps, can work out to a high that's not relatively higher in reality. These maps work out so well sometimes in both timing and levels, that it lulls us into a bit of complacency about this point. So appreciate it when it happens ... but remember to consider these not so much for specific levels but rather for timing.

And on days when you're a couple of hours into the day and the map "stops working" don't feel compelled to stick with it - sometimes an intraday bias takes hold for some exogenous reason. Having said that - here's wishing it helps once again with navigating the markets, and that everyone has a great day both in and outside of the markets!