The Alphahorn Swing System had one change on Friday as Real Estate took out its stop and moved to cash taking $1,124 in profits or a 6% gain.   It will remain in cash until a decisive move up or down is made.  The remainder of the indexes remain where we left them, 6 longs and 2 shorts, with only 1 trade in the red.

I’m the only wave counter that I am aware of who doesn’t believe a top of some sort is in.  Perhaps the masses are correct, but I prefer the ending diagonal count that calls for another new high before the deeper pullback.

The Alphahorn Swing System is indicating the topping process in underway.  Although it is weighted to the LONG/BUY side, it is beginning to add hedges on the short side.  This week should be interesting.  The 2 hr chart shows that there is a bit of room available to the downside within the ending diagonal’s lower trend line.  However, it remains valid as long as it doesn’t break below the 1627 low.