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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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  • Short Term Sell Signal 3 comments
    Jul 9, 2013 10:50 AM

    The short term trading indicators show the stock market reaching extreme overbought condition in almost every indicator. All at a time where the S&P500 has run into resistance of the trend-line drawn from prior peaks, highlighted by the red dotted line.

    Most interesting of all is the white VIX line approaching its most extreme complacency level seen in that entire chart. Note a cross of the lower white - entry - line, represents an entry on the SHORT side when the VIX is there and long when the yellow NYMO reaches that entry point.

    Now the NYMO (yellow line) is on a sell - exit (longs) - signal, with everything else in this chart screaming sell too.

    The S&P500, Dow Industrials, and NASDAQ 100 (QQQ) are all on day three of a rally above their respective 50 day moving averages, and it is common to see such moves last four days. Thus we may see one more day of bullish hope before the shit hits the fan for real, though don't count on it, as the next sell phase, one that may include a major crash, is in position to start at any moment.

    If you would like to track updates on those charts you can take a five month free trial to my alphaking newsletter. Simply sign up for the 30 day trial at alphaking.com, click on the verification email, and we will adjust to five 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.

    Kevin(click to enlarge)

    Disclosure: I am long PSQ.

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Comments (3)
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  • seethrudanoise
    , contributor
    Comments (87) | Send Message
     
    i saw a minor double top at 1654.40 today...we shall see
    9 Jul 2013, 09:39 PM Reply Like
  • kzgp39a
    , contributor
    Comments (4) | Send Message
     
    Here is the problem. It is rigged. If the major banks coming next Wednesday with a positive earnings report whcih they problaby will like they have since Obama came in back in 2008 the market will continue to go up. The CNBC spin now is the rising interest rate mean nothing because the housin market is doing so well. The lie and it works. Housing is getting killed with the higher interest rates. The 10 year treasurary is at 2.70 which is a rise from 1.60 a short time ago. The market should be tanking. The 85 billion in printed money eavery month is keeping the market up. I hope Kevin is right that we are in for a big sell off because I am caught short the S&P and have been for a few months. The fraud in the market is running the show. I bet the S&P is up from here by next Wednesday when the big banks report. As the bid banks go so goes the market. All the best. Just my 2 cents on whats going on. Pay no attention to me because I am wrong mor that I an right. That is why I an short the S&P and did not bail a couple weeks ago when I had the chance. All the best Dave
    10 Jul 2013, 10:27 AM Reply Like
  • Joe2922
    , contributor
    Comments (419) | Send Message
     
    Kzgp, I feel your frustration, it does really seem the Fed is propping up stock market per their stated plan and algobots follow the POMO money which is scheduled and announced to all at nyfed site. BUT, you knew there is a but coming, right? I just can't believe it can last and work forever; someday the reality of the cyber money will be overrun by market forces. I believe the market and mathematics, economies, are more powerful than the Fed and all the CB combined. Housing and Autos are the biggest drivers of U. S. economy, and those are the groups the Fed has helped most, along with Government supports.
    10 Jul 2013, 12:54 PM Reply Like
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