Thursday Update, time for….

I’ll finish the thought down below, first let’s look at the Swing System.  Treasuries confirmed a buy/long today with a close back above the mid band/red-green indicators.  The remainder of the Alphahorn Swing Indicators remain on BUY/LONG signals.

.. a bounce, if not more.  The NYMO chart is indicating the long trade is either on or very soon to be on.  2 of the 3 barriers I follow for the NYMO are signaling long SPX with their closes below their lower barrier.  The move up could begin tomorrow or in a day, but it’s coming according to this chart.  The 30 min chart below shows the favorite count, and a good case can be made that wave iv concluded today.  If it did, then it comports well with the NYMO chart and we should see a move up beginning tomorrow.

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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