Chart Update

Posted on November 16, 2011 by alphahorn

Here’s a quick look at the 30 min chart.  A close below 1248 brings the lower triangle trend line into play at 1234ish, then 1219/20, then 1187.  However support at 1234 could lead to a break up out of the triangle to new highs under one of  the 2 alternative counts.

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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