Thursday Update – The profits continue to soar, ZSL up 18%, TNA up 18%, FAS up 17%…..

Alpha_Swing_SystemThis is a really nice trend, glad to be able to provide information that can help pad my subscribers Christmas stockings.  All indexes remain where we left them: Equities and Energy on buys signals, while Treasuries and precious metals, gold and silver on short signals.  NOTE: the system has a stop in place for ZSL.  Should it gap up, it will exit at the open, otherwise it will exit once today’s low is taken out.  The system has been a bit too slow exiting the precious metals and an 18% return over 2 weeks is quite remarkable.

 

The 30 min chart below shows my favored count that wave ii of (iii) completed today at the neckline of the inverse head and shoulders. The immediate term indicators went back to a buy signal and the key indicator below the price chart closed above the blue line, all bullish signs.  Note on the price chart that the medium green shaded area served as support.  Many times the dashed green line will need to be tested during a correction (and it might still should today’s action be wave b, then wave c down should find support at the dashed line around 1427).  This is another reason I have an itchy trigger finger on the precious metals. I think they join the bull party if the primary count is correct.   What I still want to see however to confirm the primary count is the DIA to close back above the broken channel – see DOW chart above in gallery.  The bearish alternative once again is calling for a very impulsive move down tomorrow, perhaps the Mayan end of the world will be the catalyst.  See you tomorrow if we’re still here!  Until then enjoy your profits!!!!spx 30

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.
This entry was posted in elliott wave, finance, investing, markets, positive returns, Signal Tutorial, stock market analysis, stocks, Uncategorized. Bookmark the permalink.

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