Dow’s Surge Leaves No Doubt About the Next Rally

EST

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.

Comments on this entry are closed.

none June 7, 2018, 11:25 am

March 28, 1985 Ronald Reagan, first US president to visit NYSE.

Ronald Reagan 1st to start government health program ‘COBRA’ (a snake) 1985.

Things are never what they seem to be.

John Jay Letter to George Washington in 1787.
https://www.scribd.com/document/241491173/John-Jay-Letter-to-George-Washington-in-1787-Recommending-the-Natural-Born-Citizen-

Have a great day.

John Jay June 7, 2018, 9:41 am

Since the “Gipper’s” team made stock buybacks “Legal” back in 1983, the Dow can be manipulated to Infinity and Beyond!
LOL!!

“Repurchases done on the open market, which constitute the vast majority of all buybacks, are nothing but manipulation of the stock market. So why are companies allowed to do them? Because of the 1980 election of Ronald Reagan as president on a platform of market deregulation. In November 1982, after Reagan had appointed Wall Street banker John Shad as chairman of the Securities and Exchange Commission (SEC), the agency adopted Rule 10b-18, which permits a company to do buybacks that can amount to hundreds of millions of dollars per day, trading day after trading day, without fear of being charged with stock-price manipulation. Rule 10b-18, which remains in force 35 years later, is a license to loot the U.S. business corporation.”

https://www.nakedcapitalism.com/2018/03/stock-buybacks-hurt-workers-economy-ban.html

My My!

Another piece to the puzzle, and all the pieces fit together so nicely!

LOL!!

none June 7, 2018, 8:28 am

“There can be little argument that the American economy as it stands at the beginning of a new century has never exhibited so remarkable a prosperity for at least the majority of Americans” – Alan Greenspan, January 13, 2000

Have a great day Rick.

Smart Money Index at 2008/09 low point, the exit is in and has taken place.



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