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Daily Trend and Trade Review

April 24, 2017

Trader Talk

The trend momentum power rating remains a strong 70% uptrend.

The NASDAQ broke out hard today, though so far it remains a lone bullish wolf, and danger rises dramatically if that key index were to reverse today’s impressive gains.

Till such a reversal lands, the breakout run has potentially far to run, while at the same time pushing forward the day of reckoning for the bulls.

For now, sitting and waiting invested long while hedged remains the way to go.

In the big picture, weak energy triggered another red arrow breakdown through support last week, to join the white NASDAQ volume line, and the blue stocks trading above their 50 day average below the yellow stocks trading above their 200 day average lines in rally non-confirming mode.

One should always follow the majority of arrows – green equals strong bull markets, while red equals strong bear market – and thus so far so good as far as the bulls go.

We are looking for signs of divergence for those indexes and indicators shown in the chart, either on a breakout run to new highs – where some indexes fail to go along for the ride – or breakdown – where some indexes smash through support while others hold up better – to signal major trends are changing.

Thus, once again, so far so good as far as the bulls go, though all depends on other indexes following the NASDAQ lead, versus the more bearish outcome of the NASDAQ pulling off a rally failure.

Current positioning for the Index/VIX/Hedge Portfolio is 94% QLD, 5% TZA, 1% TVIX. This portfolio is up over 24% in 2017.

The 401K portfolio is in a stock index mutual fund, with QQQ used for tracking purposes. This portfolio is up over 13% in 2017.

Kevin Wilde Kevin Wilde
Chief Trading Strategist

Portfolio Update Archive

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