Last day of April, new passwords going out. It’s time to renew or sign up if you haven’t!
All-in-all a nice April. Despite the volatile markets and dramatic whipsaws, we were up for the month. We entered the month up roughly 15% and finish up roughly 16%. Though some subscribers were frustrated with the heavy cash positions for most of the month, cash preservation at times of uncertainty is the key. And, to milk out a profit in a month like this is a successful month in my book. YTD returns over 16% through 1/3 of the year is a great start. In contrast, last year we were down through June, yet managed a 30%+ return by year end.
The Alphahorn Swing System remains long across the board for equities, Gold and Energy. Today’s action had no effect on the System and there are no Alerts signaling pending direction changes.
The 30 min chart and the daily chart show the favored count and the alternative count. The favorite count is that minor wave 5 (blue) of intermediate wave (3) (red) is about to top (seen clearly on the daily chart below). If this count is correct, then this top will be followed by the largest correction of the year. 
The alternative is that intermediate wave (4) has already completed and now intermediate wave (5) is underway to complete primary wave [3] at new market highs, potentially testing 1700 SPX. Under this count, minor wave 1 of (5) is about to complete and the coming pullback will be more modest. Of course, we’ll trust the indicators and the SYSTEM.
