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Kevin Wilde
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Kevin Wilde is the chief trading strategist at alphaking.com and a Marketocracy.com Master. Investors can follow his trading advisories via his Daily AK newsletter, or have their money run for them via Marketocracy.com money management services, where Kevin's trades will be automatically entered.
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  • Worries Of A Top Increase, Though Blow-Off Continues, For Now. 0 comments
    Mar 20, 2013 7:23 AM

    The stock market continues to struggle, though no serious technical damage has occurred yet, with history of high risk blow-off bull suggesting the uptrend should be given the benefit of the doubt for now.

    The broader question is whether the contrarian indicators at the top of the chart below are in a blue circle "rally remains healthy despite overbought conditions" situation, versus a red circle "new sell phase headed toward extreme oversold conditions" event. The ADX line is the key to that, and the ADX is currently slowing its upward projectory. While that's a worry, the stock market as yet to make a decision one way or the other, thus, as mentioned above, following the trend is way to go at this time.

    A little worried about the calm VIX on this sell-wave, versus what happened the other few times we saw significant down days this year.

    I have been selling out of those long positions that are showing signs of distribution selling, though most of my stocks and ETFs still look healthy, thus holding onto the latter in a bid to let the winners run.

    This is going to end very ugly - once the blow-off exhausts itself - though we are not there yet.

    Kevin.

    If you would like a six month free trial to my alphaking newsletter sign up for the 30 day trial at alphaking.com, click on the verification email, and we will adjust to six months. I run four tracking portfolios - so lots of stocks to buy and sell! - as well as a 401K advisory for those looking to make and protect money in their retirement nest-egg.

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