Weak selling Monday night in the E-Mini S&Ps appears for the moment to have met its match in the form of a very minor Hidden Pivot support at 827.00. Even so, it would require quite a leap from current levels to put the bulls back in charge of the hourly chart. Gold, meanwhile, was in a delicate rally, needing another $20 to get back in contention for the near term.
COMMENTARY for Tuesday
TODAY'S ACTION for Tuesday
Rick's Picks for Tuesday
A rally today exceeding 899.50 would turn the hourly chart bullish. That wouldn't be enough to negate our 845.20 downside target -- a print at 970.10 would be needed to accomplish that -- but it would be an encouraging start. If and when the futures fall to ...
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Yesterday's plunge lengthened and strengthened the bearish impulse leg begun on the daily chart from 343.27 last week. We've been using 249.04 as a minimum downside objective, but I've going to lower it to ...
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The nearest support, a Hidden Pivot at 820.00, does not look like it would be very useful, lying as it does within 1.25 points of yesterday's low. More appealing for purposes of getting long is the look-to-the-left-peak at ...
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Upside potential over the near term is to as high as _____, and the target should be considered no worse than an eve-odds bet at this point, since it sibling midpoint at 54.13 has alrady been decisively ...
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Rick’s Picks is a daily trading newsletter and intraday advisory packed with detailed strategies, fresh ideas and plain old horse sense.
Rick Ackerman is the editor of Rick’s Picks and a partner in 
Investors Craziest When ‘Unconcerned’
by Rick Ackerman on April 7, 2009 12:01 am GMT · 2 comments
Yesterday’s weakness in stocks was attributed to “concerns” about the banking system. At least, that’s what we heard on the car radio while we were out doing some errands Monday morning. Funny how these supposed concerns can pop up at any hour of the day, often for no apparent reason. Scarcely ten hours earlier one might have thought investors hadn’t a care in the world, let alone grave worries about the health of America’s banking system. It was late Sunday night, and we were just about to turn in as the electronic index futures wafted blissfully higher, up more than 12 points in thin trading. The action implied that » Read the full article