An hour or so before yesterday’s close, a hawk-eyed pivoteer found the 1521.25 target show in the chart. Alas, the futures titillated with a last-minute push to 1520.25, leaving too little time to initiate a trade with any hope of exiting comfortably before the close with a gain. Even so, the analytical usefulness of the target remains, since, if it fails to contain short-covering this morning, we should brace for panic buying that could push the futures as high as 1562.25 over the near term. In case you’re interested, that target comes from the hourly chart, where A=1346.00 (May 26).
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.