Everything went beautifully for the Fed’s charlatan-in-chief on Wednesday when the central bank announced, right on schedule and exactly as promised, a 25 basis-point increase in the federal funds rate to 1.00%. Bond price soared, stocks moved higher without the usual wacky gyrations, the dollar took it calmly, and even bullion made nice with an uncharacteristic rally. At long last, it would appear that the investment world has grown comfortable with tightening. Implicitly, this will remove as a source of worry two more rate hikes promised for 2017. Only the most churlish contrarian would think to suggest at this moment that the proverbial wall of worry is what has sustained the bull market all along. Against this backdrop, we note that the S&P 500 recently topped two points shy of a major ‘Hidden Pivot’ target that had been more than a year in coming. Now, either of two things seems likely to occur: a bear market like no other before it will commence shortly; or, the S&Ps will blow past the target, inaugurating a new phase of the bull market that will make it even more extraordinary in the annals of stock market history. Dow 25,000, anyone?
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Tuesday, March 13, 2018
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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