Thanks to Mike Korell and his ChartsEdge - here's his Pattern Recognition map for today. Maybe today we'll find out if the equities indices need to poke a new low on this move (although they could also postpone the "decision" by some more intraday consolidation). The ChartsEdge TCI would suggest that any low for this time frame would more likely occur today if it didn't yesterday already; and not get pushed off until tomorrow. Either way, once a short-term trend change shows up with a higher-high/higher-low pattern plus replacing selling volume with buying volume - then we should see a nice tradable move up for at least a few days. Then we'll see if it's merely a wave 2 up bounce, or something more. So - here's today's map from Mike's ChartsEdge Daily Maps site page, http://www.chartsedge.com/wp/
=============
ChartsEdge Pattern Recognition
Posted: January 25th, 2010 | Author: Mike Korell |Filed under:One-Day Market Map | No Comments »
Posts
No comments:
Post a Comment