Rick Ackerman
Rick Ackerman Articles
Gold continues to make headway in herky-jerky fashion, failing to satisfy bulls but also denying bears something to cheer about. On Monday, the February COMEX contract rallied to within a millimeter of the 1240.20 Hidden Pivot target shown.
Wednesday’s monster rally was just the beginning of a surge that can end only when the last die-hard bear has thrown in the towel. Although the short-covering panic goosed stocks into the clouds, the wild-blue-yonder, blow-off phase lies...
AAPL has trampolined $4, or 2.4%, after bottoming an inch from the 170.78 ‘Hidden Pivot’ target I’ve been drum-rolling here for the last week. The stock was trading near $190 at the time the target was first broached. Friday’s low got...
Gold has once again fallen into a rut, dropping moderately for three consecutive days. This has occurred with the December contract having failed by $8 to achieve a $1254.10 rally target I’d flagged. The futures have since made a tentative...
Easy come, easy go. AMZN stunned traders with a 135-point gain Thursday from the bombed-out depths of Wednesday’s selloff. Then, after the close, the stock reversed steeply, shedding 180 points and sucking tens of billions of dollars from...
Interest rates have risen to levels where they are finally getting noticed, even on giddy Wall Street and in the undiscerning precincts of television business news. In recent days, nasty selloffs in the stock market have been attributed to...
Gold’s tiresome slog over the last month between 1190 and 1220 looks increasingly likely to end with a fall to at least 1165.30, a ‘midpoint Hidden Pivot’ support. If the stock fails to get traction there, look for more slippage to 1109.80...
December Gold has trapped bulls with fake rallies two days in a row. It dove even more steeply on Friday, the second day, falling from a 1213.80 peak recorded in the dead of night to an end-of-session low at 1197.80. This kind of price...
I’ve been so skeptical about gold’s rallies for so long that I’ll stick closely to the technical evidence to guide me this time, lest I miss the start of the real McCoy. Although the December contract looks almost certain to reach the 1223...
