ChartsEdge cycle-based forecasts for equities & gold, 5/16/11 week

Will the markets meander more without new highs, and if so, will they break support levels? The markets are capable of taking unexpected turns at times, so we use different methods and time frames to get an idea of where they're headed next. One of these is a cycle-based forecast set generated by Mike Korell's ChartsEdge; and the portion that's week-ahead is shared by him publicly, see below (thanks again, Mike!). These seem to suggest a continuing test of the 1332 $SPX support level into opex; we'll see!

ChartsEdge 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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