Posted: July 19th, 2009; Author: Mike Korell; Filed under: One-Day Market Map; Comments to ChartsEdge »
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So, once again folks, we're looking at the graphs and information that Mike shares with us, from his Chartsedge Daily Market Maps site, with some that's additional to what he typically provides as the "daily maps". If you've read the info at his site (always listed at right), or that I've posted about this at my "No Bull No Bear No Bias" blogspot (see links at right), you already know that these intraday equities "maps" are not generated using the cycles analysis he uses for the week-ahead forecasts; but instead, generates them using very low frequency signals. That's why he originally called them "BP maps" or "BP forecasts," because he captures the information on the basis of beta particles. (Hey, you don't have to "believe" in it ... but then again if you keep up with others analyzing similar science, including Steven Puetz, then you understand why this is a fascinatingly valid method.) Partly I mention this because his terminology on the set of graphs below includes the phrase "BP" which newer readers here may not have known yet.
As I mentioned in my prior post, with the "double forecast" for gold, my own interpretation comment for thie "triple forecast" for equities is that as we proceed during the week, the actual more probable path for day 2 can adjust using pattern recognition technique, based on what happens on day 1. The graph on top matches the first 2 days of ChartsEdge's week-ahead cycles forecast for the S&P 500 (which I posted earlier today). The middle graph shows what the "BP sensor" forecast looks like - that's the "daily map" many readers are already familiar with.
The "pattern recognition" graph at the bottom of the image looks like it helps you incorporate the information from the cycles forecast with the BP sensor data. You can also see Mike's comment at the bottom: "The Pattern recognition technique will modify the results for the second day based on what actually happens on day 1."
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