Long Scalp Opportunity?

Some would say why try to catch a falling knife, but this is a pretty good entry opportunity for SPX scalps.  the indicator below the price chart is pretty reliable when it comes to identifying overbought and in this case oversold situations.  Not saying this is the end of the pullback, it may or may not be, but a bounce at the very least appears  imminent.

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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5 Responses to Long Scalp Opportunity?

  1. rtk says:

    Thanks for the heads up on the long scalp. Worked beautifully!

  2. Toby says:

    What an excellent call today on the late day bounce Alphahorn!
    I noticed on your chart above that you have 4 graphs above and 4 graphs below the main SPX chart. What do each of those graphs represent? I’m sure you have stochastics, MACD, and RSI up there but I don’t know which is which on the chart since they are not labeled.
    Also, how do your counts work, as in when you say something like c of 3. I usually think of it as the numbers represent the waves in the primary trend and the letters represent the waves in the correction and the roman numerals represent subdivisions of the primary waves. Please correct me if I am wrong.
    Please let me know, I would like to follow you, your calls are excellent but your analysis is a bit confusing for me becasue I am not certain of the elliot wave terminology + how to read your chart.
    Again great call today as always and I hope to hear from you about how to understand your analysis.
    Cheers,
    -Toby

  3. ROLANDO says:

    Hallo, My email adress is ROLANDO.KRAJNIK@SIOL.NET, I HAVE NOT GOT THE LAST PASSWORD FOR AUGUST.

    THANKS

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