Wednesday Update

As we near year end, we’re having another great year up 35% YTD. We reached a nice milestone for the Portfolio value in 2020 as it went over $1,000,000 having started at $100,000 10 years ago. One change today for the Alphahorn Swing System – Miners triggered a long/buy Alert today and needs to close above today’s GDX high of $36.04 to confirm that Signal. Once confirmed it will join Gold and Silver on confirmed buy/long Signals. Equities are showing signs of being over bought with yellow and green candles being printed. A top of some degree should be relatively close at hand for equities. While equities are painting weaker yellow and red candles, precious metals and miners are showing signs of increased strength moving from red to green. I really hope everyone got on the bitcoin train. I believe it is only getting started if you haven’t.

The SPX came within a point of making a new all time high today. Once a new high is in, the requirements have been met to potentially complete primary wave [1] of the new Cycle (purple count). However, the five waves up off the intermediate wave (4) low could be a degree lower and just represent minor wave 1 of intermediate wave (5) of primary wave [1] rather than all intermediate wave (5). As I’ve been saying, the depth of the next pullback will give us the clarity on the wave count.

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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