ChartsEdge (U.S. equities) map for 7/27

Market map for Jul27

Posted: July 26th, 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, I like to provide a reminder about once a week - if these ChartsEdge forecasts are new for you, read up on how they're generated and how to use them, at the ChartsEdge site (links above and to the right) and/or my No Bull No Bear No Bias blogspot (links at right).

I noticed that Charts and Coffee blogspot (link in the "other sites of interest" at the right side of the page here) makes a very interesting point about using LQD as a "canary in the coal mine" (my phrase) to give an early warning signal for equities markets weakening. I'll try to add that to my own radar screen as well.

There certainly are reasons to look for a cresting at some point soon, and if/when that shows up then the discussion will turn back to, what is the significance of that ... Remember that the ChartsEdge weekly suggests a higher level later in the week, and then Elliott Wave counters will be thinking in terms of a 5th wave completion that in turn fills out its own internal five waves (measured on short-term charts such as those with 15-minute bars). Andre Gratian has also described his projections and views in his weekend update, as well.

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