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Daily Trend and Trade Review


May 4, 2017


Trader Talk

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

We continue to await the cross above the NASDAQ 6200 level, which will push the green trend trading timing line at the bottom of the chart across the high risk exit (longs) line, which is our cue to take profits on our QQQ and QLD positions.

We also await the potential which I believe is probable - rally acceleration pop for the NASDAQ above resistance of the first of three yellow uptrend lines, which has capped all rallies over the past month or so.

Versus a roll-over without such one last rally push, which would bring the dotted red line projection into play right here.

For now, holding longs while hedged with a small amount of TZA and TVIX remains the optimal allocation.

We will have new trades for execution going into the close via a Flash Alert Update 3pm eastern time any day the NASDAQ challenges the 6200 level.

Current positioning for the Index/VIX/Hedge Portfolio is 94% QLD, 5% TZA, 1% TVIX. This portfolio is up over 30% in 2017.

The 401K portfolio is in a stock index mutual fund, with QQQ used for tracking purposes. This portfolio is up over 16% in 2017.

Next update after the markets close Friday.

Kevin Wilde Kevin Wilde
Chief Trading Strategist
AlphaKing.com

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