Weekend Update: 3/6/2011

There are three possible counts for the SPX and two of the three have the correction over, yet the third scenario could still play out and the SPX could touch the 2/4 line that I wrote about last week around 1280.  But, as I’ve been saying and continue to say, the risk is on the downside and patient longs will have their day quite soon.  I feel pretty comfortable with my estimate of both where and when this move up will end and a notable correction will begin, but that time and that price are not here yet.


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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