THE MORNING LINE
Holiday Greetings!
My best wishes to you all for the holiday season and the New Year. May you and yours enjoy good health, prosperity and serene contentment in 2026. My regular weekly commentaries will resume with the edition scheduled for publication on Sunday, January 4. In the meantime, trading ‘touts’ (see below) will update as usual late Sunday afternoon.
Rick's Free Picks
ESH26 – March E-Mini S&P (Last:6977.00)
The reverse head-and-shoulders pattern shown yields a target up near 7,250, implying that 2026 will begin with a bullish bang. I don’t often refer to H&S patterns because they can be found anywhere one looks for them. However, there is no denying that they describe a telling picture of supply
$MSFT – Microsoft (Last:487.79)
Although the trend has been bearish since the stock at peaked at 555.45 in July, bears have struggled lately to achieve the implied correction target at 444.95. Most immediately, I expect the stock to run up to the 496.09 target of a minor pattern. If it takes out the pattern’s
$SIH26 – March Silver (Last:78.970)
Silver has used up all big-picture targets going back to a time when a single ounce sold for less than $4, leaving us with only sketchy ‘extension’ targets along the C-D leg. They project possible ‘D’ resistance at 81.240 or perhaps 82.295, but I see little practical value in these
$BTCUSD – Bitcoin (Last:87,393)
I’ve modified my outlook and coordinates following last week’s punk performance and am now projecting more downside to the 72,756 target shown. However, the short-term picture would brighten moderately if the bounce from Friday’s low exceeds 87,903. Thereafter, a pullback to 87,236 would signal a (very) short-term buy with a
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