Sunday, June 14, 2009

What the cycles indicate for the week ahead in the (U.S.) equities and gold markets: ChartsEdge

Here are the week-ahead cycle forecasts from ChartsEdge. If you aren't already familiar with these, you can locate some information about them from the Cycles Review post addressing their cycles work, as well as info I posted at my "No Bull No Bear No Bias" education site (links for both at the right side of the page); and of course at Chartsedge.

Naturally, I am trying to "fit" these ChartsEdge weekly maps, into my understanding of the Elliott Wave scenarios, primarily relying on Tony Caldaro's great work with the Objective Elliott Wave as he updated it this weekend. Either we can use those for the cycles timing and less so for absolute levels, which may help in "fitting" them together. Or perhaps something else will happen - either the cycles play out differently, or something else takes over and forces more of a change in the Elliott Wave analysis. I know that a lot of people are looking at the 943/946 area, for reasons that include the 200-day moving averages among others. And that the 950/960 area is important not only for my own Fibonacci work and support-resistance that appears in the long-term charts around 660/760/860/960/1060, etc., but also Tony's pivot that he's mentioned at 961. If we do really get up to the 980 area, then a lot of people will be looking for a continuation to SPX 1000 and even 1020-ish. Doesn't mean that the markets will oblige, but I'm just pointing out that this is what many will be thinking if we see the SPX play out as shown in these ChartsEdge weekly forecasts.

But those are just my own comments, for what they may be worth - so, without further ado, here are the charts for this upcoming week from ChartsEdge:


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