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I am resuming bitcoin coverage and will treat it as nothing special, since that's the best way to be objective when reading its charts. The one shown provided two good opportunities to get long 'mechanically' at 7481, so we'll assume that its target at 10,026 will prove just as useful as a minimum upside objective. We'll talk about buying a pullback to the red line (p=8330) if it should occur, but for now just keep in mind that 'mechanical' set-ups are well suited to trading vehicles that move as violently as this one. Not to get crypto fans too excited, but the weekly chart implies that 11492 will be reached and that 19850 would be in play if 11492 is exceeded decisively._______ UPDATE (Jun 24, 9:35 p.m. ET): The lunatics have taken charge, speeding this bottle rocket toward the 11492 target much more quickly than we might have expected.  Let's see how easily they handle 'hidden resistance' at 11492. _______ UPDATE (Jun 25, 8:39 a.m.): A vertical rally pushed this wack-o speculative vehicle to 11467 before it topped out 0.2% (two-tenths of one percent) from my 11492 target. It's due for a breather now. Let's see how long it lasts. _______ UPDATE (Jun 25, 8:35 pm.): The Hidden Pivot resistance at 11,492 lasted for all of about ten hours. This comes as no surprise, since this speculative vehicle really IS in the hands of revelers who, to put it mildly, are not overly concerned about valuations. The 19,850 target is not yet a done deal, but at this point it is no worse than even odds to be hit.______ UPDATE (Jun 26, 9:34 a.m.):  I am raising my minimum target to 21,032. Based on this chart, I would say the odds are remote that bitcoin won't get there.

Rates on the Ten-Year T-Note are positioned to rally in the way we might expect of a 'counterintuitive' trade set-up. Yields have come down to test the support of a 2.03% low made in 2017, and it should hold for at least a short while. But because the weakness of the last two weeks somewhat exceeded the 2.11% target we'd been using as a minimum downside objective, any bounce from these levels, or perhaps from slightly below 2.03%, is likely to be merely corrective of the larger downtrend begun last autumn. There could be a 'CI' trade in the offing (see chart inset), so stay tuned if you're interested. _______ UPDATE (Jun 20, 11:33 p.m. ET): Assuming the 1.97% low holds, a rally in yields to 2.28% would trip the 'CI' buy signal noted above. Here's the chart. ______ UPDATE (Jul 2, 5:43 p.m.): The rally in Ten-Year rates was short-lived and now they appear headed down to at least 1.944%. Any lower would put a 1.87% target in play.

We've been using the 1412.20 target shown in the chart to stay on the right side of the trend. It's not quite a done deal, however, because the rally pulled back to the midpoint pivot at 1325.60 for a day before getting second wind. This suggests, if not weakness, then a mild hesitancy. It will not likely prevent the futures from achieving D=1378.00, but we'll let price action at that 'hidden resistance' determine the odds of the higher target being achieved. Please note that a pullback to the red line would trigger a mechanical buy, stop 1308.10. A somewhat less risky bet would be to place our bid at the green line (1299.40), stop 1273.10. _______ UPDATE (Jun 11, 5:55 p.m. ET): If you bought at the red line (1325.60), exit half now for a profit of $560 per contract. Offer one of the two contracts remaining at 1347.30, o-c-o with a stop-loss at 1325.50 on two. _______ UPDATE: The rally has hit 1348.90 so far, allowing a profitable exit at 1347.30 on the third of four contracts (or multiple thereof) originally bought for 1325.60. The theoretical gain on this trade now totals $3290, plus an additional paper gain of $2170 for the contract still held. _______ UPDATE (Jun 14, 9:50 a.m.): I'm heartened to have heard from numerous subscribers who actually did the gold trade. At this point it's a straightforward play for 1412.20 on the final contract (or final 25% of your position). With a $6000 profit to cushion you, you can afford to give this one a generous stop-loss. An impulsive stop using the hourly chart would take you out at 1337.20.

Lyft's 25% rally off a post-IPO low of 47.17 demonstrates that there really is a sucker born every minute. They evidently have been lining up in droves to purchase shares of Lyft, which at best faces a long, treacherous path to profitability. A key hurdle is whether drivers for the digital ride-sharing companies are to be classified by the IRS as employees rather than contractors. If the former, the firms are fated to get trounced by independent operators banding together to provide all of the services that Lyft and Uber currently provide and a few more.  For your information, LYFT triggered an old-style 'mechanical' short Thursday at 57.85, stop 62.99, for a shot at 42.41. This is a riskier set-up than we usually trade, so I am advising it only for experienced Pivoteers. ______ UPDATE (Jun 3, 7:18 p.m.) Shorts are getting squeezed hard and would invalidate the 42.41 target if 62.99 is exceeded. That would not change my bearish outlook for the stock, although we would need to establish a new short position at a higher level. _______ UPDATE (Jun 5, 5:46 p.m.): Short-covering drove this gas-bag slightly above 62.99. Now, we can use the 62.99 peak recorded on May 3 to short the stock 'counterintuitively'. If it goes no higher than Wednesday's 63.24 top, the short would be signaled at 59.29._______ UPDATE (Jun 9, 6:15 p.m.): A two-day plunge triggered the short at 59.29 for a presumptive ride down to at least 55.33. I will track the position if I hear from at least two subscribers who did the trade._______ UPDATE (June 10, 5:04 p.m.): The 'counterintuitive' short is showing a $1000 theoretical profit at the moment on 400 shares. It has the potential to produce an additional $550 at p=55.33, and nearly $1600 more at D. I've

The 'counterintuitive' trade recommended for Tuesday triggered at 2787 and was showing a theoretical gain of $900 per contract shortly after the close. Because of the way the rally blew past the green line, it is an excellent bet to achieve a minimum 2846, the midpoint Hidden Pivot of the pattern shown. If you did the trade, I would recommend taking a profit on half of your position at these levels and using a break-even stop for what remains. Exit an additional 25% at 2846, then keep 25% for a potential moon shot to as high as 2963. At that price, the gain on any contracts still held would be $8800. Subscribers who hold a position should let me know in the trading room. I will provide tracking guidance if I hear from at least two of you who followed my recommendation. (Note: I also advised using the micro contract as an alternative during an impromptu online session held Tuesday morning.) ________ UPDATE (Jun 5, 9:18 p.m.): In the chat room just now, I have advised exiting any remaining contracts at a current 2817. The additional theoretical gain would be about $1500 per contract. I am skeptical that this rally will get much further, or that desperate hints of easing from the fraudsters at the Fed will carry the day. ________ UPDATE (June 5, 5:33 p.m.): A weekly close above 2846 would bolster the bullish case, which I've pegged to a 3095 target for the S&P cash index.

Gold's $30 run-up over the last two sessions is the sharpest we've seen in a while. Was it just a knee-jerk reaction to continuing weakness in U.S. stocks? Probably. But we'll keep a close eye on it nevertheless, since gold sentiment is so negative, sometimes verging on despair. Many investors who have followed bullion's bear market closely since prices peaked eight years ago just above $1900 seem to get their hopes up every time gold rallies moderately. Disappointment has invariably followed, and then something worse as prices receded back into a rut. And yet, quotes have been too stubbornly buoyant for bears to triumph. Gold has been in a holding pattern for six years, defying predictions of a plunge below $1000 to shake out weak hands once and for all. It is a consolidation to be endured -- but also closely watched, so that we do not mistake the start of a bull market for yet another tiresome and vexatious head fake. In practice, for now, that will mean focusing on the three 'external' peaks shown in the chart (inset). If this move exceeds all of them without much of a pullback on the intraday charts, that could be a sign that we are witnessing something more than just a tease.

Friday's plunge came within six points of fulfilling the 2744.25 target we've been using to keep us confidently on the right side of the trend. This Hidden Pivot support seems all but certain to be achieved Sunday night or Monday morning, but the selloff could conceivably continue down to as low as 2732.50 if  the support doesn't hold.  At that level the futures would be in good position to set up a 'counterintuitive;' buy signal. I'd suggest tuning to the chat room at that time if you trade this vehicle. The extent of the bounce is unpredictable at the moment, but it would need to exceed 2842.00 before we start taking the rally seriously. _______ UPDATE (Jun 3, 12:30 p.m.): The futures have bounced eight points tonight from 2732.25, a single tick beneath the target given above. This is well short of the 2791.00 print needed to trigger a 'CI' trade, but if you simply bottom-fished with a tight stop-loss, you should have taken half the position off for a partial profit. In any case, you're on your own. _______UPDATE (Jun 3, 6:27 p.m.): Six hours of gratuitous swings lowered the CI trigger to 2787.50 but otherwise changed nothing.

Gold's $30 run-up over the last two sessions is the sharpest we've seen in a while. Was it just a knee-jerk reaction to continuing weakness in U.S. stocks? Probably. But we'll keep a close eye on it nevertheless, since gold sentiment is so negative, sometimes verging on despair. Many investors who have followed bullion's bear market closely since prices peaked eight years ago just above $1900 seem to get their hopes up every time gold rallies moderately. Disappointment has invariably followed, and then something worse as prices receded back into a rut. And yet, quotes have been too stubbornly buoyant for bears to triumph. Gold has been in a holding pattern for six years, defying predictions of a plunge below $1000 to shake out weak hands once and for all. It is a consolidation to be endured -- but also closely watched, so that we do not mistake the start of a bull market for yet another tiresome and vexatious head fake. In practice, for now, that will mean focusing on the three 'external' peaks shown in the chart (inset). If this move exceeds all of them without much of a pullback on the intraday charts, that could be a sign that we are witnessing something more than just a tease. ______ UPDATE (Jun 3, 6:42 p.m.): This is the steepest three-day rally we've seen in a long while. It would exceed 1335.70, the last of the three peaks mentioned above with just one more modest push. If it can get past a fourth 'external' peal at 1347.90 recorded in February that isn't labeled in the chart, that would raise the odds that this rally is about to get legs. Specifically, it would put into play the 1412.20 target shown in this chart. Note that our minimum target at present

Here we go  again. The Fed evidently has begun "conditioning" our "expectations" for a new season of quantitative easing. Fed Would Consider Interest-Rate Cuts if Growth Outlook Darkens  is the headline atop a news story concerning a NYC panel discussion moderated by the central bank's vice-chairman. This is just what Wall Street and other promiscuous abusers of credit have been praying for lately, along with the Trumpster. We've come a long way policy-wise, baby!  How many months ago was it that some Fed party pooper was dropping hints about another round or two of tightening in 2019? The stock market's reaction was feeble, but only because DaBoyz are already pacing themselves to milk every inch of upside they can from the central bank's new spin. Perhaps this is what will push the S&P 500 index to 3095, a Hidden Pivot target of mine that has seemed a little farfetched. I still have my doubts it will be reached, but I'll stick with it unless my technical runes take a turn for the worse. In the weeks ahead, we'll surely be hearing plenty about how easing will re-invigorate the housing market. I am predicting otherwise, since this particular gas bag has already begun to deflate. But who knows? Perhaps Southern Californians who live in dumpy little, million-dollar Eichlers will trade up? My forecast calls for 10-Year rates to decline to at least 2.11% from a current 2.22%. That may not be enough to launch stocks into the sort of parabola they achieved in Q1, but it'll probably hold them buoyant for a while. _______ UPDATE (May 31, 8:34 a.m. ET): So much for buoyancy. Trump has taken the tariff war to Mexico with a tweeted threat, and stocks are getting pasted as a result. My forecast for lower rates can stand,