January 24, 2018 | Worst Bet of the Decade

I’ve drum-rolled numerous rally targets over the course of this nine-year-old bull market, some ostensibly capable of stopping the herd in its tracks. A few worked beautifully — for a few days, anyway. But none contained buyers for much longer than that. Now, both the E-Mini S&Ps and the Dow are rapidly approaching the very last long-term targets I can offer that have what might be called eye appeal. I am not spotlighting either of them because betting against this bull has become like betting against Tom Brady, the Patriots’ aging but nonetheless still-potent quarterback. I should mention as well that the E-Mini S&Ps pattern that produced the ‘interesting’ target just above is one of the strangest I’ve ever used. It comes from a composite chart and is therefore unlikely to work with penny-precision, assuming it works at all. Even so, you should check it out, along with the chart, in the E-Mini S&P tout below. You never know.

Rick Ackerman January 24th, 2018

Posted In: Rick's Picks

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