Monday, November 16, 2009

ChartsEdge (US equities) map for 11/16

UPDATE 11/16, 8:31 AM- Mike posted the additional two at the public site at ChartsEdge Daily Maps, so added here below just above the one posted last night:

11/15, 8:01 PM - Here's tomorrow's intraday Pattern Recognition map from ChartsEdge Daily Maps (remember, their BP intraday map for Monday should be at their subscriber site by tomorrow morning - follow links on their site for details, link above and always at the right side of the page here). You'll remember too, that the third type of forecast to be considered with the daily maps, is the day's excerpt from the ChartsEdge weekly cycle forecast posted earlier today (which you received as part of their week/months-ahead subscription, or for just the current week you can locate at the ChartsEdge side by navigating their links or use the "ChartsEdge weekly" label in the labels list at right here anytime).
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ChartsEdge One-Day BP Chart

Posted: November 16th, 2009 | Author: Mike Korell | Filed under:One-Day Market Map | No Comments »

Excerpt from the Weekly Cycle Chart

Posted: November 16th, 2009 | Author: Mike Korell | Filed under:One-Day Market Map | No Comments »

ChartsEdge Pattern Recognition Chart for Nov16

Posted: November 15th, 2009 | Author: Mike Korell |

Filed under:One-Day Market Map | No Comments »

Thanks once again, Mike and ChartsEdge!

Folks, as I post this Sunday evening, the futures are up about 6 points for the S&P (ES) futures so I'm wondering if the "tooth fairy" is perhaps on the job after all! As for where the SPX goes on a swing trade basis - we've certainly had the benefit of a great deal of technical market data and review. Maybe the SPX will just give us the third-of-fifth wave up with a top to complete at or about 1112 (could be up to 1118), and even with a diagonal pattern to make Elliott Wavers happy ... then top out Tuesday or Wednesday, drop into opex Friday, and continue down after that.

Or maybe not - maybe the market still has some curve balls in reserve! For one, if we see higher than 1118 or 1121, we may need to revamp the counts again - not expectin' but just sayin' let's stay alert. After all, the ChartsEdge weekly points to strength on Friday; and maybe a fourth wave consolidation could be this week and spread out over longer then just several hours. Maybe there are even technical factors that would push the markets up to even higher rally highs, with the third-of-fifth pushing up more or an extended fifth wave when we get to a fifth-of-five. So it'll be a good idea to respect any contrary or alternative views, keep watching for confirmations or negations .... and stay on our toes. As always - careful, and happy market navigating!

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KI$$ (tm)* S&P 500 index-tracking position:
Cash or caution; should remain above 1274/1296 to support bullish theory. Needs to continue making higher lows on daily charts as well. Caution until past 1360, and also into autumn.. ALERT: bearish setup seems to be confirming - sell rallies (go to cash) or hedge, unless SPX makes 1360 support. Lower lows may be in the weeks ahead.

Oil (USO, etc.) - Await confirmation that low is in.

Natural gas (UNG, etc.) Possible cycle low completed, but KI$$ traders should most likely avoid this given vulnerability to being a longer term bear market.

Gold & Silver: Possible low carved 6/4-8/12; cautiously long assuming that's important support. If this low doesn't hold, then 1392 remains possible. If for some reason 1392 didn't hold then it could fall toward 1100-1200 so respect the levels. If this low holds then may well start heading toward new highs.

US Treasury Bonds: holding up surprisingly well and may continue as reserve/quality if stock markets break down.

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2. Andre Gratian's market analysis which he puts forward at SafeHaven.com, and his website is http://www.marketurningpoints.com/.

3. Objective Elliott Wave as presented by Anthony Caldaro at his the Elliott Wave Lives On site (his public charts are available from the charts links he provides there).

4. Cycles work by Jim Curry at CycleWave - Market Turns. There's also another cycles analyst I refer to often, Tim Wood at his Cycles News & Views service. Each of these experts has a very good track record and a remarkable amount of work, explanation and attention to detail. In addition, Tim also comments on Kondratieff waves and Dow Theory, and addressses equities markets, bonds, gold, currencies, commodities and more.

5. John Hampson's modeling at http://amalgamator.co.uk, based on geomagnetics, the Bradley siderograph and full moon/new moon cycles, also looking at gold, VIX and other indicators for perspective.

6. Financial astrology and sociological-economic commentary by Raymond Merriman at mmacycles.com, including free weekly comments at Merriman Market Analyst Weekly Comments.

7. Bill Luby's VIX and More blogspot. Also VIX, put/call (options) and sentiment commentary by Todd Salamone and others, including Bernie Schaeffer himself of course, at Schaeffer's Research site. Sentiment surveys by the ISE (the ISEE charts and data, accessible for equities/indices/ETFs), SentimenTrader, and the TickerSense sentiment poll at TickerSense.

8. Weekly COT (commitments of traders) reports - sadly, they only come out each Friday afternoon reporting on COT positions as of the preceding Tuesday, so always a bit dated: COT (Commitments of Traders). There's also COTS Timer blogspot. And check out the Option Pain CBOE (Max-Pain) Calculator from OptionPain.com.

9. Excellent trading education, training and psychology at Brett Steenbarger's TraderFeed blogspot. Weekly economic calendar as presented by MarketWatch; and FXStreet.com's daily updated economic calendar covering the U.S. and other countries.

10. New - news and insight at Jesse's Café Américain. Articles and interviews posted at GreenLightAdvisor; "The Macro View" at Seeking Alpha; Markets news, insights and perspectives at Minyanville News & Views; a blogs review at 4Best4Worst Blogs; anything at Financial Ninja; posts at Bespoke Investment Group; quick wit along with some wisdom and insights: Crossing Wall Street; and financial news analysis from the experts at Naked Capitalism.

11. Terry Laundry's T Theory work at his T Theory website. There are also other sites that have some good technical analysis like Shanky's TechBlog; technical analysis by Kenny at Kenny's Technical Analysis Blog; trendline analysis at http://xtrends.blogspot.com/; and Carl Swenlin's work at DecisionPoint.com.

12. PTV-Investing Blog where Andy Askey uses Gann analysis and price/time overbought/oversold measures, plus volume to assess market strength. Also keep an eye on Elliott Wave analysis at AllAllan's blogspot, and Daneric's Elliott Waves blogspot too. You might check out Carl Futia's blogspot, and Carolan website with "solunar" calendar and more. Drop in at Charts and Coffee too, for a range of market charts. May start checking out The Chart Pattern Trader blogspot ...

13. Charting you can do at Stockcharts (and if you're doing intra-day trading you should consider their subscription package that includes intraday real-time data) ... don't overlook their very good free "Chart School" including how to use indicators, at Stockcharts Chart School.

14. My other blogspot "Tao of Trading" with commentaries about psychology and similar aspects of trading, at Tao of Trading.
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CHARTLINES (tm)

Monday, November 16, 2009

ChartsEdge (US equities) map for 11/16

ChartsEdge One-Day BP Chart

Excerpt from the Weekly Cycle Chart

ChartsEdge Pattern Recognition Chart for Nov16

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CHARTLINES (tm)

Monday, November 16, 2009

ChartsEdge (US equities) map for 11/16

ChartsEdge One-Day BP Chart

Excerpt from the Weekly Cycle Chart

ChartsEdge Pattern Recognition Chart for Nov16

No comments:

Post a Comment

Wikinvest Wire

Welcome to ChartLines (tm)!

Twitter updates:

Twitter Updates

Tony Caldaro's OEW updates

List of posts by labels:

Add PayPal functionality to your business:

Other Sites of Interest:

World Climate

Subscribe to ChartsLines blog

Feed of posts from my "UBTNB3" site

Bloomberg TV