2/9/2011 Midday Update

Updated primary count [iv] of (iii) of [iii].  1308.98 must hold for this count to remain valid. Otherwise (iii) is complete and likely larger degree (iv) of [iii] is on

1308.98 is the wave i of v of (iii) high, any breach of this and the larger degree wave (iv) of [iii] is underway.  Once this wave is confirmed it should retrace 23.6%-38.2% (see chart above – possible targets are 1295, 1277, both correspond nicely to trend lines (black solid and orange dashed)

About alphahorn

I received an MBA from Columbia University’s Graduate School of Business in New York and am a Wall Street veteran. I’ve worked for a number of investment banks including Smith Barney and First Boston/C S First Boston in New York. Over the years, I have developed my own Proprietary Swing System and I combine that System with my own Elliott Wave Analysis to trade.
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7 Responses to 2/9/2011 Midday Update

  1. Tony D says:

    Nice work, thanks.

  2. alphahorn says:

    Tony THESE CHARTS ARE LIVE, unlike the previous system they are updated as the day unfolds, the daily close is what is relevant, but there are times when the close is obvious, so do check in

  3. alphahorn says:

    Also, I would expect the pivot of 1315 to hold for a close if this is still (iii) of [iii]. I would view a breach of the pivot a sign of a bigger pullback. Also, this can be wave the larger degree wave [iv] unfolding via a triangle and it too could stay above the 1315 pivot before the final push to 1330-35

  4. Gainesville says:


    Are the suggested stops based on closing prices?

    Thank you.

    • alphahorn says:

      Good question, should have made that more clear. Theoretically yes, this is a daily chart and it’s the close that matters. However, if it seems very likely that a trade is only going to go south from where it is midday based on one’s indicators, then I go ahead and exit. Which system in particular were you referring to?

    • alphahorn says:

      On ERX I’d hold out for the close, you might also want to play the 21 EMA and hold for anything above that. Energy is at the end of a great wave 3, I hate to bet on its ending an leave a bit on the table, but you can always get back in. I have a feeling this is a fourth wave and it’s going to spurt one more time up.

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