ChartsEdge daily pattern map for 12/21 and notes on their BP equities projections

Okay, time to think about Monday's daytrading potential (which might also help carve out, or point to, a swing-trade low for the potential further wave up, if such a low occurs Monday or Tuesday). ChartsEdge has provided their Pattern Recognition map for Monday, 12/21. And also, some interesting observations about their BP maps, including as to the Dow and SPX, and further projections. As shown below, all provided by Mike Korell; and you can also find more background info on these forecasting tools, at his ChartsEdge Daily Maps site (always in the list at right), http://www.chartsedge.com/wp/

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ChartsEdge Pattern Recognition

Posted: December 20th, 2009 | Author: Mike Korell |

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

ChartsEdge Comments on the BP data

Posted: December 20th, 2009 | Author: Mike Korell |

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

These two charts show a daily average of the 8,640 points which are acquired each 24-hours from the BP sensor.

The first chart shows the last three months of the S&P over the last 90 calendar days of the BP data.

The second chart shows the forecast extended out as far as possible with an obvious high of some kind on the 31st of December.

One thing which stands out is the fact that the BP data has consistently been more bullish than the S&P. I would expect that to continue.

The DJIA index more closely matches the BP.