Free Month day 2 Update

Not a great deal of action as the holiday week kicks off.  The indexes are either in the c leg of wave 2 under the bearish count, or they are in the early stages of wave 3 of primary wave [3] of the bullish count.  Either way the Swing System is bullish.  All the equity indexes are on longs. Gold remains on a buy ALERT needing to take out Friday’s high to confirm the trade, while Silver continues to lag.  Beware!!!! the NYMO is at a VERY EXTREME overbought position and needs to vent off some steam.  A sharp correction is in the future (and would fit under both the bullish and bearish 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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