One of the very best plots I check when wanting to know if I will see any aurora on any given night is this one:
which can be found here.
If you are looking at this plot from the past two nights you will be kicking yourself for not looking outside (because there was probably some good aurora if you are at a high enough latitude).
So what does this plot mean? Along the x-axis you have three days of time, and along the vertical you have magnetic field strength. There are two traces plotted. The red trace (as seen from the label on the right) is at a longitude of W75 (oh look Mark Twain's 176th birthday, thanks google). I live at a longitude of W . The blue trace is from a satellite that is over the West coast. I guess the main purpose for these satellites is for weather measurements. We use them because they have magnetometers to measure the Earth's magnetic field.
What does measuring the Earth's magnetic field have to do with aurora? Stop getting so distracted by Mark Twain and magnetic fields.
Don't worry, the magnetic field is important. Mark Twain is important for things not related to the aurora.
So imagine the Earth's magnetic field as a perfect dipole. Like so:
If you were a satellite, orbiting around the Earth at the same rate as the
 Earth's rotation, measuring the just the vertical component of the 
magnetic field, what would you measure? If you said a straight line, you
 were correct. As you orbit around the Earth, the magnetic field you 
would measure is constant, say 90 nanotesla. 
But
 the Earth's magnetic field is more interesting than a perfect dipole, 
because it interacts with the sun's magnetic field, aka the IMF 
(interplanetary magnetic field), and the solar wind. Remember this post? That is what actually happens. So the Earth's magnetic field ends up looking more like this:
The
 field lines on the Sun-side of the Earth get shoved in, and the field 
lines on the opposite side get stretched out into a tail. Ignore the 
labels on that photo that say "acceleration region" and "auroral 
electrons" because they are wrong/don't make sense.
So
 now, as your little-satellite-self orbits around, when you are at noon,
 you measure a stronger magnetic field, say 100 nT. And when you are at 
midnight you measure a less strong (vertical component) of magnetic 
field, say 80 nT. If you plotted this, you would end up with a 
sinusoidal wave. A sinusoidal wave is a realistic trace to see on the 
GOES plot, and unfortunately that means there will probably not be any 
aurora. 
The
 aurora, in the simplest way of thinking of it, is the result of a giant
 energy release. Which means you need to somehow get energy into the 
magnetosphere system. This energy comes from the solar wind, which is why we look at ACE
 as part of predicting aurora. When a lot of energy is being put into 
the system that magnetic field will no longer be nice and stable, but 
highly variable. If you look at the plot at midnight (conveniently 
labeled with an 'M' (and there is an 'N' for noon)), you can sometimes 
see that tail getting stretched out like crazy, so you are only 
measuring a magnetic field of 25 nT or even less. This measurement is 
indicative of a huge amount of energy being put into the system, and 
that energy needs to get released, and the beautiful result is an 
amazing light show.
And
 since we are talking about predicting the aurora, I'll mention that if 
you see a sudden spike in the magnetic field measured at GOES, this is 
indicative of aurora to come in 30-60ish minutes. 
The main idea: smooth sinusoidal curve is no good, jagged trace with big spikes and dips is very good.
I guess the last main thing I look at for predicting the aurora is the optics from the ground, so that will be up next!



 

