ChartsEdge has made available for today, their Pattern Recognition version of their daily map forecast. Subscribers to their service can of course see more they may provide for the day. Looking at this map, I see it fits with their weekly cycle forecast too (generated with other means) - that had shown Tuesday to be a low point, leading to higher levels the rest if the week. If we see an intraday low about 1053 or just 1058, the fit should work well (though lower is possible but I'm feeling not very likely). Of course it's also convenient for the new month, new money "cycle", LOL. Still, as I've said before: this is still zigzag movement which usually feels extreme, and remember that when the zigzag resumes to the downside.
A reader sent me a fascinating idea about a bullish fork on the monthly charts. It would fit with the idea we're already on the path if a much larger (supercycle?) wave V up. We may not have that answer fir another half year or so.....
As a side comment, I still think gold hasn't proven that it's following the bullish versus bearish wave count on the weekly charts - will just have to see for now. Naturally there's a lot to think about vis-a-vis the dollar!
So without more, here's today's contribution from ChartsEdge:
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A reader sent me a fascinating idea about a bullish fork on the monthly charts. It would fit with the idea we're already on the path if a much larger (supercycle?) wave V up. We may not have that answer fir another half year or so.....
As a side comment, I still think gold hasn't proven that it's following the bullish versus bearish wave count on the weekly charts - will just have to see for now. Naturally there's a lot to think about vis-a-vis the dollar!
So without more, here's today's contribution from ChartsEdge:
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ChartsEdge Pattern Recognition for Sep29
Posted: September 28th, 2009 | Author: Mike Korell |Filed under:One-Day Market Map |
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