Pullback almost over – Revisiting the NYMO Weekly

I posted this chart a week or so ago (see: https://alphahorn.wordpress.com/2012/05/23/when-we-might-expect-to-see-an-end-to-this-pullback/) and showed that we should expect a lower low for the SPX, while the NYMO makes a higher low.  That should play out today and when it does, if the past is once again an indicator of the future in this context, then the bottom should be in (Provided the NYMO has bottomed – it took 5 months to do so back in 2008-09, but that was a much more substantial pullback!)  See the chart above on NYMO weekly closes below 100 and what happens next!

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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