Ricks Picks header image

Have Bulls Finally Learned to Live with Fed-itis?

1 comment

We should take Friday’s weak payroll numbers with a grain of salt, since they are most unlikely to change the Fed’s hawkish drumbeat of late.  I am particularly skeptical of the strong rally in gold, although the current tout suggests maintaining a bullish trading bias as long as the hourly chart stays constructive.  The E-Mini S&Ps are another matter, however. Based on the way they’ve rallied or at least remained buoyant regardless of Fed signals in recent weeks, I’ve put out a new rally target that is intended to stretch the bullish imagination — especially that of permabears who understand that keeping an open mind is the only way we can survive and flourish amidst the sustained nuttiness.

Please do not ask trading questions!

  • Rantly McTirade June 5, 2016, 9:31 pm

    Perhaps you should just focus on your technical system that seems to work very well and give up on the caterwauling about a cataclysmic market decline, at least until its a realistic shot-i.e., S&P 500 clearly below the February low. Debt deflation had a great shot at a classic once-every-75-years collapse in 2008 but was stuffed inside the 5 yard line by ‘money printing’, aka reserve and credit creation by the Fed and other central banks with pure fiat, undisciplined by gold or any other restraint. By no means do I think there will be a ‘good’ outcome, especially in the real world economy, but like the Generals, market analysts are often fighting the last war/enemy. If the SP5 does shoot past the 2200 level, that would constitute a breakout from about 18 months of consolidation and be a new cyclic bull leg, not a ‘blowoff’, And, hard as it is to type-Gary Leibowitz will have won. Is there any way to apply Hidden Pivot analysis to generate long term, aka, multiyear, targets? If not, stick with the short term analysis that works.


    You should try subscribing to Rick’s Picks, Rantly, since you’re missing most of the good stuff, including the chat room and 90% of my forecasts for various time frames, short, medium and long. Concerning the inflation/deflation supposed debate, it’s difficult to believe there are still inflationists out there, soldiering on. I haven’t heard any arguments from you guys lately that are even worthy of a rebuttal. By all means try me if you think you’ve got a good one
    . RA

    ps: Did you somehow miss my latest S&P forecast, which calls for a rally to 2250.00?

    pps: I 86’d Liebowitz permanently from my site a while back for his failure to acknowledge that I’ve been as bullish as he is — when the market is rallying. He was always trying to argue that the market was going higher because the economy is healthy and everything is hunky-dory.

    ppps: Gary, don’t think for one second that just because I’ve mentioned your name, that I’m going to let you post here. I’ve got a filter set so that I don’t have to read even a single word of your insufferable claptrap.

Do you want up-to-the-minute technical analysis and forecasts for your favorite stocks, commodities, ETFs? Join our Take Request Session on June 15th!

No, I'm not Interested

Free Butterfly Spread Video Training

Discover an ultra-easy trading strategy that delivers darn-near-zero risk in this free 1 hour video training.

The Story You Haven’t Heard About the GameStop Saga...

Join Us Thursday, Feb 11th @ 12ET For a Live TELL-ALL Webinar

No, I'm not Interested