OK, the positive divergence is really building on the bearish ETFs, might see the SPX try to reach the 1219 pivot, but I doubt it gets there.  I’m going to be in and out the rest of the afternoon, so the Portfolio is adding SPXU and BGZ here, once again if it sells off into the close, the existing trades will take the stops off, and they might do that anyway.  More on that later.


SPXU: 16.13, stop 15.88

BGZ: 36.49, stop 36

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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