Wednesday Update

Alphahorn Swing 2018.PNGEnergy, Miners, Silver and FCX are on long/buy alerts.  Miners (GDX $23.15; the trade will be JNUG), Silver (SLV $15.91/ trade AGQ) and FCX ($19.12) only need to trade above today’s highs to confirm the signal.  We are still waiting on a green candle to confirm the Energy long.  The System will automatically enter those trades and the Portfolio will enter any the ones it is not already in. Alphahorn Portfolio.PNG

I continue to favor the green count.  This count anticipates intermediate wave (4) making another leg down.  This c wave down should be a catalyst for the negative divergence necessary on the longer term charts leading to a significant market top.  Alternatively, the blue counts presume a fourth wave is in place and that we’ll see new highs before a lower low.  We are right at the 50% retracement level, which just happens to coincide with the red/green indicator on the Alphahorn System charts above.  Funny how that works out.  Key inflection point, tomorrow could be telling.spx 30.pngThe daily SPX chart is looking for the conclusion of intermediate wave (4) and then a final leg up to complete the bull market.  I still have my sights set on the end of July for the end of the bull market, let’s see if that plays out.spx daily log

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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