Count Update

Posted on May 17, 2012 by alphahorn

Consistent with the Alphahorn Swing Shorts, the RUT, XLF and Transports have all violated wave (1) indicating this cannot be wave (4).  The new primary count is that primary wave [2] is correcting the recent rally.  The transports and SPX have had truncated wave (5)s,  (wave 5 did not make new highs for these two indexes).   The other majors did make new highs.

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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