Chart Update

Unless minor wave 4 become a complex corrective wave, I’m looking for this flat to come to a completion either today or tomorrow.  It looks like wave (iii) of [c] is almost complete.  If I’m correct, then I should begin to see some positive divergence with my key indicators on the 30 min chart as waves (iv) and (v) trace out.  As you can see, they have reached the extreme oversold range and once they turn up from here (above the green line) the immediate term buy signal will be on.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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