A nice day for equities, Energy in particular was very strong today. The Alphahorn Swing System continues to function brilliantly as the Alert on Financials was never confirmed and financials continue with the rest of equities, precious metals and miners on confirmed long/buy signals. Corn and Wheat remain on sell/short signals.
As I suggested last night, the SPX re-tested the lower (2)/(4) channel trend line today, then bounced as expected for the bullish count. Obviously we need to see continuation tomorrow via a very impulsive move up that takes out 2075.The NYMO reversed as expected off its triple barrier breach and the indicators have had time to both reach oversold levels and have now begun to turn up from oversold indicating another leg up might be ahead of us. This chart bodes well for the bullish count.The bearish count continues to look for a big move down to begin to leave no question that primary wave [C] of Cycle wave 2 is underway.