Sunday, November 8, 2009

ChartsEdge week-ahead cycle forecasts for equities & gold, week of 11/9

Here are the week-ahead cycle-based forecasts from ChartsEdge for the upcoming week of November 9. As they remind us from time to time, these primarily depict timing and not necessarily relative price highs and lows. These forecast charts also gain more predictive strength when similar moves are indicated by ChartsEdge's daily BP maps and Pattern Recognition charts (both of which are available daily before the open at ChartsEdge's subscriber site). More information on how they generate these cycle-based forecasts is available from the ChartsEdge site (link above and in list at right), much of which I've also placed at my NB3 education site (link at right).

Remember, these are just probabilities based on ChartsEdge's analysis of cycles timing. So another useful tool - not as a "set it and forget it" formula, but as information we've seen to be useful in the past and can expect to be useful this week too. Again, when boosted by their daily maps. However - these can be consistent with what we're seeing from other methods including Elliott Wave - which is helpful in terms of putting it all together. It makes sense to consider the SPX levels of 1072, 1074, 1076 and 1080 - if we see the wave 2 reach higher. I'm really not thinking the SPX can exceed 1084. For that matter, the wave 2 top might be behind us now!

So without further ado, here's the week-ahead view from ChartsEdge:
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