ChartsEdge (U.S.) equities map for 6/16; and a few comments

Market Map for Jun16

Posted: June 16th, 2009
Author: Mike Korell
Filed under: One-Day Market Map Comments to ChartsEdge »


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Thanks once again, Mike and ChartsEdge!

Folks, once again it looks like the daily map is telling a different story from the applicable day within the ChartsEdge week-ahead cycle forecast - today even more so, than yesterday (the map for yesterday having looked generally like the shape indicated by the weekly forecast for Monday, except for the indication for the very late afternoon). (And remember as I commented Sunday, these maps are generated used a different methodology than the one used to generate those weekly cycle forecasts.) Assuming that today's equities action looks more like today's map, it's an early "tell" that the week-ahead cycle forecast isn't quite working. Perhaps the shape, in terms of timing (rather than price level), will still have value - will see.

Of course that comment applies to the daily maps too - use them more for intraday timing of intraday highs and lows, and not necessarily for whether they will be relatively higher or lower than depicted for the rest of the day. Normally you'll be able to tell by mid-morning, and especially late morning, whether the relative levels of the intraday highs and lows are "tracking" as indicated on the map. You can find info on how to use these at my "No Bull No Bear No Bias" site (using the "ChartsEdge daily" label), and the ChartsEdge website also includes this page, How to use the Market Maps (using the old terminology, when those maps were originally called "BP charts").

So as always, be careful out there - and happy market navigating!