There’s little I can offer you today, since the futures spent most of yesterday correcting the weakest impulse leg I’ve seen since the last groin pull on Dancing With the Stars. In theory, the next pop higher would be to 1208.25, predicated on a breach of the Hidden Pivot’s 1198.50 midpoint. In practice, you’ll have to trade this one catch-as-catch-can using the pattern shown, unlikely as it is to hold. _______ UPDATE (10:34 a.m. EST): With the Fed’s commitment overnight to become the lender of last resort to the Western World, the futures have blasted into hyperdrive. The monster rally, amounting to about 410 Dow points so far, is at this moment inching toward a Hidden Pivot target at 1239.75 that could cap today’s action.
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The consistent accuracy of Rick Ackerman’s forecasts is well known in the trading world, where his Hidden Pivot Method has achieved cult status. Rick’s proprietary trading/forecasting system is easy to learn, probably because he majored in English, not rocket science. Just one simple but powerful trick -- managing the risk of an ongoing trade with stop-losses based on ‘impulse legs’ – can be grasped in three minutes and put to profitable use immediately. Quite a few of his students will tell you that using ‘impulsive stops’ has paid for the course many times over.
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(July 18, 2016)
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