Monday Update

alphahorn portfolio.PNGThe Alphahorn Portfolio remains predominantly in cash.  More than likely we’ll see an immediate term pullback per the wave count options described below.  But, we could see a bit of  slow crawl up still before this first leg up off the December lows concludes.  So, we’re keeping our powder dry and will use it when a clear entry presents itself.

The wave count remains on schedule.  The bullish blue count is that intermediate wave (1) of [5] has concluded and now (2) is underway. Minor wave a of (2) looks to be finished and now a small bounce in b is underway.  I am looking for (2) to conclude just below 2600 SPX.  The bearish red count should mirror the blue count for some time until either the  blue count pushes on to new highs or the red count takes out the December 2018 lows.  While there is a chance that primary wave [B] has completed, I favor the scenario that merely the (A) leg is complete and (B) is underway.  This will keep both the bulls and bears hopeful a bit longer. (Note: there is a small chance that this small pullback is minor wave 4 and we’ll another push up to complete either (1) or (A).  Until, the immediate term becomes more clear, we’ll stay predominantly in cash).spx 60

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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