Stock market bears should feel better today, judging by these cycle forecasts (added to the post I just made earlier about analyst warnings). Readers should remember that the ChartsEdge weekly forecast showed a drop in equities markets (S&P 500 and Nasdaq) from Monday to Tuesday. Going along with that, we've now got the two types of intraday forecast maps for today made available by ChartsEdge Daily Maps. And they've added an update of their new Confidence Chart. Now we can't expect just these to confirm a new trend reversal downward on the daily and weekly charts - for that, we need to see the SPX lose key levels like 1100, 1082, ultimately 1067 (and 1030/1022). We'll be able to see at the end of the day how much damage this inflicts on the indices, as well as dollar and gold effects. (Thanks again, Mike and ChartsEdge!)
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