Rick Ackerman
Articles by Rick Ackerman
Several feints higher in the last week have done little more than trap bulls looking for a breakout. None of the rallies exceeded the two external peaks labeled in the chart, casting doubt on the enthusiasm and buying power of bulls. This...
The March contract on Tuesday exceeded a long-term target at 2270.00 by three points, a seemingly modest feat that could have very bullish implications going forward. Although the small overshoot was not sufficient for us to regard...
Switching to the March E-Mini S&P makes clear that it is much closer to a potential major top than the December contract. The latter still has about 30 points of running room before it hits a 2299.00 target, and the stop-loss I’ve...
Although COMEX Gold offered no similar encouragement, March Silver’s rally on Monday was strongly impulsive, implying as it has that the futures are a decent bet to reach the 17.295 target within the next 2-3 days. Moreover, if buyers are...
Doc Copper has swung wildly since November’s moon shot and seems likely, on the visually evidence of the charts, to attempt another spectacular leap. Assuming the gyrations of the last three weeks have been a consolidation for a follow-...
The previous chart showed a rally target of moderate importance at 2250.00 derived from a low recorded on November 9. Here’s an alternative target at 2240.50 that comes from a larger pattern (see inset). There is yet one more target at...
We’ve been using a downside target of 16.350, but if support at that Hidden Pivot fails, we’d be looking at more slippage to at least 16.165 over the near term. That’s the midpoint Hidden Pivot support of the pattern shown, and as you can...
There is as yet insufficient evidence to speculate on whether copper’s impressive post-election leap will turn into a belly flop, or instead prove to be the booster stage of a much bigger rally. Whichever is the case — and I strongly doubt...
The chart included with yesterday’s DJIA tout showed a big-picture pattern going back to early 2016 that projects to as high as 19727. This one, tracing back to early July, points to a somewhat less ambitious target at 19489. It is...
On Tuesday, the E-Mini S&Ps finally fell to a moderately bearish Hidden Pivot target that had been more than two months in coming. The fact that Wednesday’s bounce from this Hidden Pivot support was weak and lasted for less than a day...
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