Wednesday Morning Update

Posted on February 16, 2011 by alphahorn

SPX and DOW made new highs as I expected and are now at critical inflection points. The SPX has reached the key pivot area 1334ish and upper trend line resistance. Should it impulse up through this area and exceed 1345, then I would expect it to be unimpeded until the 1360 level. On the other hand, this would be an ideal place for it to take a much deserved and overdo break.

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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1 Response to Wednesday Morning Update

alphahorn says:

February 16, 2011 at 10:25 am

$Copper is looking very weak today. It has reached the upper trend line of its channel and is due for a turn, which may have begun today.

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