On the 30 min chart below, note the yellow circles.  As I noted last night, wave 2s like to test the dashed green line and perhaps we’ll see a c wave down to finish wave ii.  If the bullish count is correct, then I’d expect this pullback to end today (perhaps it still has one more small marginal low to put in).  NOTE:  The System will exit ZSL, the silver short, should it take out the stop at $50.39, and lock in its 16% gain (from a wave count perspective ZSL could be in wave 4 of c, and if so, could make a marginal higher high).  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.
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