Sunday, November 28, 2010

ChartsEdge week-ahead cycle-based forecasts for equities and gold

Swing traders will have to see if Wednesday's high is a short-term lid on the stock market. I'm tilting to the idea of a rally into the beginning of December, i.e. the end of this coming week, and KI$$ swing traders may want to think about whether they want to play in for the idea ... That's a personal decision, since the bigger question us whether $SPX 1227 is the lid. As for gold, it's looking like a bearish head and shoulders, so the critical level is last week's high and right shoulder. That's the level I'm using for my own short-term short position in gold. Many analysts are split on being bullish or bearish. I've seen good analysts split on that question, so let's be careful. Meanwhile - for gold as well as stocks, below are the week-ahead cycle-based forecasts from his ChartsEdge - thanks again Mike! Do you realize he incorporates fascinating and proven data on solar cycles, geocosmics and geomagnetics? The ChartsEdge forecasts come in several styles for subscribers; these are simply cycle-based maps to be used as one guide, not necessarily a standalone single method - that's why we refer to several good methods. However, Mike's ChartsEdge's daily (intraday for subscribers) and week-ahead forecasts more often than not give a very good sense about the relative lows and highs to come. (He's also generating different forecasts with different methods in order to help subscribers gain higher degrees of accuracy). There's additional info on that at his website, and some is also at my "UBTNB3" blog. So here's what his basic cycles set showing for this week:
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