Summary

Leading Wall Street technician, Ralph Acampora of Altaira Wealth Management returns to the show with an overview of key support levels in the markets. The yearlong trading range in US equities includes wide swings of 2,000 points in the Dow Jones Industrials, due in part to rate hike indecision on the part of policymakers as well as uncertainty over the upcoming November election. Meanwhile, the Eurozone is grappling with Grexit issues, which is stifling economic growth. Nevertheless, our guest assures listeners that both domestic and EU equities markets will likely rebound from current levels; US stocks could reach new zeniths this year. Ralph Acampora agrees with several recent guests that gold and silver have seen their lows; selloffs present buying opportunities to increase portfolio exposure. The technical position of crude oil continues to improve with a strongly bullish head and shoulders pattern formation suggesting much higher prices for the energy sector in 2016.