Thursday Update: all according to plan

Alphahorn Swing 2015Sell/short Alerts was triggered for the Biotech industry today.  An open below $44 will lead to an exit of BIB.  However, should it rally and close above that level, then the trade will be re-entered before the close.  Otherwise all indexes remain on long/buy signals.

The 30 min SPX chart shows the SPX is behaving exactly as expected.  I believe the most likely count is the blue alternative.  According to this count minute wave [ii] might have bottomed today or could possible push down to around 2104.  But once complete, then minute wave [iii] should follow and take the SPX to the new all time highs I’ve been forecasting all along.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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