Yesterday’s gratuitous ups and downs seemed to suggest that although buying enthusiasm is non-existent at the moment, selling completely dries up when the Dow is down a hundred points. The blue chip average had been maneuvered there Sunday night — a change from a summer-long pattern that has given us mostly Monday-morning short-squeezes and opening gaps. We can use a Hidden Pivot target at 10088 if stocks hit an air pocket, or even 9843 if it’s breached on a closing basis, but there is no compelling evidence to suggest that such a selloff is imminent. Alternatively, buyers would need to print 10426 today to create a bullish impulse leg on the hourly chart.
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.