Here's today's intraday BP map from ChartsEdge Daily Maps (remember, their Pattern Recognition intraday map for today is at their subscriber site (and their two types of intraday cycle forecast maps, plus their weekly cycle forecasts (use "ChartsEdge weekly" label), gain predictive power when they all look similar) - follow links on their site for details, link above and at right):
=============
=============
ChartsEdge BP Chart for Nov17
Posted: November 17th, 2009 | Author: Mike Korell |
=============
Thanks once again, Mike and ChartsEdge!
Folks - so long as the SPX can stay above 1097 then it could use this indicated intraday cycle to complete - or at least start - its wave 5 of 5 we've discussed according to Tony Caldaro's Objective Elliott Wave. Plus I'm confident other Elliott Wave analysts are counting it that way too. Indeed, some of them are looking at time and price completing out today, Nov. 17, for the Fow at 10,495 or 10,500 (I noticed at "Planet Yelnick" as I posted at the UBTNB3 blogspot (for all these see links at right).
Then as we've also been reviewing, Andre Gratian plus independently, Terry Laundry are seeing important action here. With a sharp eye on the advance/decline statistics, which could signal either an "out" (top) or conversely another chance at first base if it can launch higher yet again. Meanwhile there's that US dollar to keep an eye on!
It all means, there's many a slip twixt cup and lip - so we'll mark today as a milestone probably, but exactly for which event - a bear market rally top (SPX 1113 or 1122??), or just another waystation before it's done - we cannot be certain until more days pass after today for confirmation either way. So take it as it comes, folks ... and happy market navigating!
Posts
No comments:
Post a Comment