Chart Update

Posted on May 17, 2012 by alphahorn

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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4 Responses to Chart Update

  1. KaZoom says:
    May 17, 2012 at 2:11 pm

    Notice that if you draw a line from your $RUT chart (1) thru (5) and copy to (2) – it matches perfectly with the low today

    Reply
    • alphahorn says:
      May 17, 2012 at 2:26 pm

      sorry, my comment was base upon the (1) (3) line. But, still with the breach of wave (1) high, this cannot be a wave of the same degee, it must be higher, therefore I prefer the trendline off the bottom. Let’s see, your line might prefer support

      Reply
  2. alphahorn says:
    May 17, 2012 at 2:20 pm

    yes, i had that line, but expect it to fail and find support at the new line. now that this is a higher degree wave, the line must be off the Cycle 2 low

    Reply
  3. KaZoom says:
    May 17, 2012 at 2:28 pm

    RIght – good point.

    Reply

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