Rick Ackerman

Yesterday's gap-up opening was in fact the bull-trap we'd expected, and it brought this vehicle to within inches of our 156.01 target. The 155.67 actually achieved wasn't quite close enough to get us short stresslessly, however, and so initiating a position will have to wait until Wednesday (assuming the perfect opportunity arises). Adroit camouflageurs are encouraged to attempt the trade in less-than-perfect circumstances, since this is a high-odds spot for a tradable top to occur. (It's also possible that last Thursday's 155.74 peak was the top we've been looking for. For that reason, you'll need to pay close attention to minor impulse legs in the opening 15 minutes of Wednesday's session, since they could yield the sort of subtle opportunity that comes and goes all too quickly.)

Coincident rally targets in the E-Mini S&P and Diamonds will allow us to get short in either or both with relatively little risk if and when the respective targets are reached. Check out my touts for these vehicles for more-detailed instructions and charts.

Because of the close proximity of an important rally target in the E-Mini S&Ps, we should view an analogous one at 156.07 in this vehicle as an opportunity to get short with relatively little risk. Accordingly, I'll recommend buying four September 150 puts if and when DIA is trading within 3 cents of the target.  My guess is that the options will be trading for perhaps 1.18-1.24. Please report your fills in the chat room so that I can establish a tracking position for your further guidance. Note as well that my intention is to use a stop-loss 20 cents lower than the amount paid for the puts, on average, by subscribers.  If you use a 'camo' signal to get short, you can double the order size to eight contracts (or 800 shares if stock is used). _______ UPDATE (9:56 a.m. EDT):  I just noticed a compelling target at 156.01, so let's start looking diligently for the short from 155.95 on up.  We'll need to guard against the possibility that today's obligatory, sleazy gap-up opening will turn out to have been a bull trap.

Bears could be in for a respite shortly, since there's a major Hidden Pivot resistance not far above, at 1708.75.  Another at 1703.75 that was noted here previously remains viable, but we should defer for the time being to the higher number, since it is by far the more important.  Camouflageurs can try shorting at either, or both, but  I'd suggest doing so at 1703.75 only if the theoretical entry risk per contract can be held to no more than five ticks (1.25 points). _______ UPDATE (4:54 p.m.): Tuesday's pullback was mildly impulsive and pointed toward a 'D' correction target at 1683.25 that can be bottom-fished in any way that suits your style. Night owls should consider shorting the implied fall, since the p midpoint support at 1687.50 has been exceeded by 1.00 point. The pattern is shown at the right-hand edge of the chart (a new one), along with our original rally target at 1703.75. _______ UPDATE (July 24, 1:34 p.m. EDT): A moderately bearish impulse leg has been generated on the hourly chart today, but it would become more serious with just a little more selling. Specifically, the short-term outlook would take a turn for the worse on a print at 1676.75. So far, the intraday low is 1678.25.

With two bearish impulse legs on the hourly chart since Friday morning, Netflix gave us ample time to exit our small position with a profit of as much as $324, depending on which of the signals you heeded.  Despite our short-term bull play, Netflix was a sitting duck ahead of Monday's earnings.  The earnings were great, as was the news that 630,000 new subscribers had come aboard. However, that didn't stop the Wall Street crime syndicate that manipulates the stock for a living from sending it into a $30 dive after the close. Once again, we should be grateful that we had no inkling of how good the earnings report would be.  It should be clear by now that those who did have an inkling, and who logically assumed the news would drive the stock sharply higher, got sandbagged.  However, you'll want to keep in mind that no stock ever gets hit as badly as NFLX did yesterday afternoon unless DaBoyz are eager to buy it at distress prices. Although it will be scant consolation to the widows and pensioners who got shaken out of the stock in the throes of Monday's 12% plunge, the plunge itself should be viewed as evidence that Netflix's sleazy handlers intend to run up the stock again once granny has been separated from her shares. Meanwhile, we must congratulate the aforesaid sleazeballs (aka arse bandits) for concocting the persuasive 'buy' story that was used to push NFLX to recent highs of around $270.  The company was going to reap a fortune from its foray into Hollywood and the 'content' business. Or so the story went.  There may be a profit in producing hit TV shows and movies, but if it were all that easy Disney would not be writing off hundreds of millions of

The futures look poised for an 80-cent leap Sunday night (see inset).  At present they are trading just beneath the 20.005 midpoint resistance associated with a D target at 20.795. If it is decisively penetrated, a move to 'D', at least, would become an odds-on bet.

Gold futures have opened sharply higher Sunday night, trading just off a 1319.30 peak that lies $8 below the 'crystal clear' target at 1327.00 we've been using as a minimum upside objective for the near term. If that number is exceeded by more than $1 or so, the August contract would be telegraphing more upside to at least 1335.80 (see inset), the Hidden Pivot target of a lesser pattern begun with  tonight's upthrust. _______ UPDATE (1:33 p.m. EDT):  The August contract has shredded minor targets -- and one major one -- this morning with easy aplomb. The implication is that this run-up is bound for 1361.00. That Hidden Pivot is not likely to give way easily, so be prepared for a stall. If none occurs, however, bears and the bad guys (i.e., the bullion bankers) had better dive for cover.  Even so, we should never discount the fact the their good buddy, Uncle Sam, is capable of lending however much gold it takes to halt this lovely insurrection.

The second leg of Tesla-mania has stalled, but we should have no doubt that the 147.44 rally target (see inset) will be fulfilled. Assuming the stock doesn't blow higher without fully correcting the last upthrust, the most logical spot for bottom-fishing -- we'll try to do it with call spreads -- would be the 108.35 midpoint support of the pattern shown.

The nearest Hidden Pivot support, a midpoint pivot at 192.10, is a logical place to try bottom-fishing, especially since other traders will have only vague expectations of an upturn from somewhere above the structural support (see inset) at 191.59.  Accordingly, on the 5-minute chart, camouflageurs should start looking for an attractive boarding if and when the downtrend has reached 192.28. If you fill, please let me know in the chat room so that I can furnish a tracking position for you further guidance Please note that an easy breach of the pivot would imply more slippage to as low as 183.26, its d sibling. _______ UPDATE (July 23, 5:25 p.m. EDT): The last feint lower bottomed at 193.24, denying us a boarding opportunity. For now, we'll put this stock aside.  The fact that Big Blue is having such difficulty correcting to a midpoint pivot is bullish going forward.