Another abbreviated post tonight, I’ll do a big post over the weekend, probably on Monday as the markets will be closed once again. And, then next week, I’ll be back to my fully engaged mode. The bounce today could be 1 of 3 different things. My favorite count is supported for now by the 30 min chart above. I believe the odds favor this bounce as [b] of 2, with [c] down to follow. Howerver, should the recent 1269 high be taken out, the, the pullback was either a wave 4 flat with one last move up to finish primary wave [B] or, the SPX has traced out a 1,2, [i] (at 1269), [ii] and now [iii] of 3 is about to kick off.
The Alpha Swing Indicators are the same, all equities are on LONG/BUY signals, though Gold and Copper remain short. However, I believe Gold has at least formed a short term bottom and should bounce. The Portfolio will be looking to go long Gold on any signs of strength.
I wish everyone a very Happy and Prosperous New Year!!!!!!!!!! I’ll be back on full time next week. Thanks for all your support, I appreciate your business and will do my best to make 2012 as profitable as 2011.