Although AMZN’s follow-through on Wednesday didn’t have the wattage we were looking for to pull the stock market higher, the broad averages themselves provided a clear confirmation that they will continue their upward trek, at least for a while. I’ve provided a precise target at 25,803 that I am 90% certain will be reached, which would imply a further rally of exactly 657 points. This presumably would be just an installment on the 300-point thrust I’ve projected for the S&P 500. I am mentioning the lesser target because it looks like such a slam-dunk. It could be useful for traders, but also for doubters who may be skeptical about how much higher the bull could go before buyers are spent. If you are unfamiliar with Rick’s Picks and have wondered how predictable the markets are, you might want to jot down the 25,803 target. Look for the rally not only to happen as predicted, but for price action at the target that could lend itself to trading against the trend. In my latest INDU ‘tout’ on the home page, I have detailed for trading purposes a ‘mechanical’ set-up that includes a bid and stop-loss that could be used in conjunction with DIA. If you don’t subscribe but would like a peek, click here for a free, two-week trial subscription that will give you access to all features of Rick’s Picks, including a chat room that draws gifted traders from around the world.
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Tuesday, August 20, 2019
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.
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