No changes for the Alphahorn Swing System today. The indexes remain where we left them: SPX, DOW, NASDAQ, FINANCIALS, REAL ESTATE all short. Gold is on a buy alert, but in cash, the RUT and ENERGY are long.
The 30 min chart shows the favorite count that minuette waves (i) and (ii) of minute wave [iii] of minor wave a of intermediate wave (4) topped today. The next move is governed by two important levels. As you can see on the 30 min chart below, 1674.21 and 1636.88 are the keys. A break above 1674.21, exit all shorts, a break below 1636.88 exit the longs. I continue to like the favorite count, which also meshes well with the system’s call. If correct, then we should see a nice drop to mimic what has been going on with the Real Estate index, which has been getting absolutely trashed!
