Sunday, May 1, 2011

ChartsEdge cycle-based forecasts for May 2-6 week in equities and gold

Maybe these bullish markets need to shake off some weak hands with a pullback (and maybe some markets really are overheated or worse). There's a reason we feature a select few great analysts here - each has something unique to add, and taking them all into consideration we can better hone in on the most likely market moves and what they mean. Below are the week-ahead cycle-based forecasts from Mike Korell's ChartsEdge (thanks again, Mike!). He also considers proven data on solar cycles, geocosmics and geomagnetics. The ChartsEdge forecasts come in several types for subscribers; these shown below are Mike's basic cycle-based maps to be used as one guide. Mike also provides ChartsEdge Daily Maps (intraday for subscribers (daytraders' delight!)), and other week-ahead and months-ahead forecasts using beta waves and pattern recognition to project lows and highs to come over various time frames. 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 shows for this week:
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