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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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  • Bull Trap, Crash Coming 2 comments
    Sep 5, 2013 10:35 AM

    The daily chart certainly does have the potential for a 3 step A-B-C run to fill the gap near S&P500 1685, though this intra-day view of the S&P500 over the past 10 day says not so fast.

    Five waves down into #1, clear three step retracement into #2, labeled, A-B-C, with the final rally into the C position run on five waves, as it should, per the rules of Elliott Wave.

    That view says we tank right here...

    Resistance of 50 day moving average is 1660. Four day rally above 1660 that then fails would put us EXACTLY in the 1987 crash position. So either way, bulls look toast, with the prime question which of Elliott Wave 2s is the final bull trap, 1660 or 1685? Note price-wise there is not much difference between the two, and time-wise we're only talking a week.

    If you would like to track updates on those charts you can take a four 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 four 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 (2)
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  • I like and appreciate your work, Kevin. In the universe of varying EW counts, your EW and non-EW work consistently match mine. My count from Oct '11 is shown below, where we had a triple zz from the Apr lows (and where the rise from Jun 24th was fated to attempt a touch of the upper line for the triple zz -- a few points short in SPX but perfectly touched by others including INDU). This precludes any further rise in the upleg from Oct '11 (Primary Y). The mid-term bullish potential would be if we morph into a Primary Z heading into a major top, say, 2 years hence, which I give lower odds versus a straight retest of 2009.
    http://bit.ly/1dZ1NyH
    6 Sep 2013, 09:59 AM Reply Like
  • I continue to follow your work Kevin, but I have yet to move money to a money market account, but it seems like the time is getting closer and closer....
    10 Sep 2013, 11:24 PM Reply Like
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