At Tuesday’s close the futures looked like they needed to come down to a midpoint support at 943.10 to find traction. This would present a buying opportunity, since the Hidden Pivot is so nicely defined. Accordingly, I’ll recommend bottom-fishing via a 943.20 bid, stop 942.60. Keep in mind, however, that if the support gets pulped, the futures would be telegraphing more downside over the near term to at least 931.40, the ‘d’ correction target associated with 943.10
Trading Newsletter for Gold, Silver, Stocks and Mini Indexes
About Rick’s Picks
Rick's Picks publishes stock, commodity, and mini-index trading recommendations and forecasts based on a proprietary technical analysis method that took more than ten years to develop and hone. Get a free trial of Rick's Picks and see for yourself why Rick has such a dedicated, worldwide following of active traders.
-
Hidden Pivot Method Online Training
The next Hidden Pivot Seminar will be held Feb. 29th - Mar. 1st.. This two-day online event will teach you Rick Ackerman's risk-averse Hidden Pivot Method. Once you have learned his proprietary secrets, you will approach trading and investing with enough confidence to make your own decisions without having to rely on the advice of others.
Register before 2/17 and save $50. Use coupon code: 7D5629.
Read what a recent grad had to say. Additional questions? See our Hidden Pivot Seminar FAQ. -
-
Follow Rick’s Picks Via
Comments on this entry are closed.