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Some Blowoff Targets For This Lunatic Phase

By: Rick Ackerman, Rick's Picks

 -- Published: Wednesday, 24 April 2019 | Print  | Disqus 

The bull market has gone vertical, suggesting stocks are in a blowoff phase. Where will it end?  We’ll hazard a guess simply because it’s irresistible fun, and because one of these days we’re going to get it right. Let me therefore offer 2953.50 for the June contract, or 2974.25 if any higher.

Both seem likely to show stopping power, even if equally compelling rally targets got bulldozed on Tuesday.  The lower number is especially appealing because of the precise stall at the midpoint Hidden Pivot with which it is associated, and the perfection of a ‘mechanical’ buy signal 40 points below these levels a week ago.

Click here for a free two-week trial subscription that will give you access to all paid features and services of Rick’s Picks, including daily, actionable trading recommendations and a ringside seat in a 24/7 chat room that draws veteran traders from around the world.


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 -- Published: Wednesday, 24 April 2019 | E-Mail  | Print  | Source: GoldSeek.com

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