AMZN hit a bull market target Thursday that had been 17 months in coming and then plunged $82, suggesting it may have made an important top. The high occurred to-the-exact-penny at a 1083.31 Hidden Pivot resistance that I began drum-rolling in early June when the stock was trading for less than $1000. I put a great deal of emphasis on this forecast because if AMZN was headed toward an important top, so was the stock market. We shall see. But the top was corroborated by another that I had projected in DIA, an equity-based vehicle designed to track the Dow Industrials. It topped Thursday at 217.75. Although that’s a new all-time high, it is not sufficiently above the 217.45 target I’d projected to consider the target decisively breached. How will Thursday’s dramatic divergence between the Dow and the Nasdaq/SPY be resolved? My gut feeling is that bulls will win this one. Even so, I’ll be watching AMZN in particular very closely, since the broad averages are not going to get very far without the stock’s powerful leadership.
Comments on this entry are closed.
Click here for a special deal for graduates of the Hidden Pivot Course who want to stay on the cutting edge
Tuesday, January 23, 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.
Another secret Rick will share with you, “camouflage trading,” takes more time to master, but once you get the hang of it trading will never be the same. The technique entails identifying ultra-low-risk trade set-ups on, say, the one-minute bar chart, and then initiating trades in places where competition tends to be thin.
Most important of all, Rick will teach you how to develop market instincts (aka “horse sense”) by observing the markets each day from the fixed vantage point that only a rigorously disciplined trading system can provide.
The three-hour Hidden Pivot Course is offered live each month. If it’s more convenient, you can take it in recorded form at your leisure, as many times as you like. The course fee includes “live” trading sessions (as opposed to hypothetical ‘chalk-talk’) every Wednesday morning, access to hundreds of recorded hours of tutorial sessions, and access to an online library that will help you achieve black-belt mastery of Hidden Pivot trading techniques.
The next webinar will be held on Tuesday, January 23. Click below to register or get more information.
Bitcoin Drama Obscures Ongoing Collapse of Market Volatility
Should We Trust Bitcoin?
Wall Street Ponzi Scheme’s Biggest Challenge
Bitcoin Mania’s ‘Secret Sauce’
Tax-Reform Hubris Reaches a Deafening Pitch
Eyes on AMZN and the E-Mini S&Ps!
Here’s How Mr. Market Might Set Up the Kill Shot
A FAANG Correction Worthy of the Name?
Do You Really Need to Ask If It’s a Speculative Bubble?