ChartsEdge map for 1/08 for S&P500, ES futures & equities daytraders

Market Map for Jan08

Posted: January 8th, 2009
Author: Mike Korell
Filed under: One-Day Market Map »

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Folks, I want to say again, I think the ChartsEdge intraday chart maps are doing a great job. Yesterday, price did start upward as the map yesterday indicated, but then market bias did overcome the action so the upward movement failed. So, once again, the early action tracked very well, and then you had to be alert for whether the intraday highs and lows were tracking as indicated or whether a strong market bias was taking over. Even when strong market bias takes over, the timing of subsequent turns tends to remain evident, it just plays out translated differently in actual price. That's been my observation, and is also based on Mike's comments at his ChartsEdge site on how to use these charts.