The year 2009 will close with a bang, not only because of the possibility of poking up to another high (or at least a good effort) as signaled by Mike Korell with his ChartsEdge Daily Maps below (thanks again, Mike!). His work also showed recently the probability of highs into year end. And we're grateful also to the work of Andre Gratian in technical analysis, and Tony Caldaro in his Objective Elliott Wave, who've shared their insights showing the same. As well as Terry Laundry whose T Theory work kept pointing toward rally resumption. (Each of these, listed in the sites links list at right.) So the market is closing emphatically! But also with ambiguity, because it hasn't confirmed the bull vs. bear alternatives that can lie ahead. We'll explore those more over the weekend. For now, here's the indicated intraday movement from ChartsEdge (their subscribers know whether the 3rd, pattern recognition map agrees - but even if it doesn't, this gives some guess of the odds - just remember it isn't necessarily a lock, especially with the light volumes and shortened trading day):
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ChartsEdge Daily charts for Dec 31
Posted: December 31st, 2009 | Author: Mike Korell |Filed under:One-Day Market Map | No Comments »
The charts all reflect a whole day. Ignore that due to the holiday.
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