Tuesday Update

2014 Alphahorn Swing SystemOne change today for the Alphahorn Swing System as the precious metals confirmed their short/sell signal as GLD closed below its stop of $118.82 and the Portfolio took that trade at the close and took profits on DGP and AGQ and entered DZZ and ZSL.  As I noted earlier today, I elected to get back in sync with the System on the long side for equities and took losses on the SPX, DOW, Nasdaq, and RUSSELL shorts and entered the respective long trades.  Near the close, I also elected to take profits on the Real Estate short SRS and enter the long trade URE.  Here I’m against the System and will exit should IYR trade below $79.08 at any time.  I to0k the trade as IYR found support on the red/green indicator and painted a bullish reversal hammer as well.

The 30 min chart reflects what appears to be the more likely count that minor wave 2 has bottomed and minor wave 3 is now underway.  Primary wave [3] should finally top in the next 2-3 months.  We should be getting close to a wave [iii] of 3 impulsive move up, once minute wave [ii] completes, which might have occurred today or perhaps at the 50% retracement level. 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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