Thursday UPdate

Energy triggered a buy/long Alert today and needs a close above XLE 31.31 to confirm that Signal and join the rest of equities long. Precious metals are still looking to catch the bid.

The blue wave count continues on course. The blue count is looking for new all time highs before any meaningful pullback. The red and green counts are looking at 3508ish for resistance and the top of the b wave. If one of these two scenarios plays out, then we will see a lower low of some degree below 3209.

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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