Rick Ackerman
Rick Ackerman Articles
Today’s price action generated a distinctive pattern on the intraday charts with the potential to tell us whether the powerful selling we’ve see in recent days might be the beginning of a bear market. Notice how this morning’s follow-...
The Wall Street Journal inadvertently forecast Monday’s vicious short-squeeze rally with this headline: Calm Market Turns Choppy. Strictly speaking, the word “choppy” implies that stocks have moved both up and down. In this case, however,...
The futures blew past the 1346.10 target with ease, implying that an ABC pattern of greater magnitude, with a correspondingly higher target, is driving this rally. The one shown projects to 1430.80, about 5.6% above current levels. The...
The pattern shown, with a minor downside target at 1302.70, looks like it will provide the most useful perspective for the very near-term. Neither the midpoint pivot nor the secondary (respectively, the red and green line) showed any...
Idle rate-hike threats burbling from Yellen’s pie-hole on Friday generated a Whoopee Cushion rally in gold that signified absolutely nothing. Unfortunately however, the rally will likely have burned up some short-covering buying power...
Picture if you will the Fed governors and their midget boss sitting around a long mahogany table, each in his best Emmett Kelly pastiche: bulbous red noses, scraggly mops of rust-colored hair, size 36 shoes, kayak-sized white lips framed...
The ABC pattern shown is ugly enough to be useful, especially since it has already gifted us with a ‘counterintuitive’ buy signal at the green line that could have been worth as much as $900 per contract if traded. All of the ‘external’...
As we went to press, the futures were within four ticks of the 1312.10 retracement target sent out to subscribers Tuesday night. Will this minor Hidden Pivot support hold? Even if it does, we’d still need to see a rally surpassing last...
The selloff since Friday may seem momentous to trade-desk denizens, but so far it has barely caused a blip on the Dow’s weekly chart (see inset). Would another thousand-point selloff seem scary? As you can see for yourself, even that...
I expect one of two things to happen next, neither of them particularly bearish. Scenario #1 calls for June Gold to fall just a bit more, to the 1251.00 Hidden Pivot support shown, then rally sharply to a new record high at 1336.30. More...
