September 1, 2020 | Something for bulls AND bears to root for….

An interesting day, Hidden Pivot-wise. AAPL topped 0.03% from a rally target I’d drum-rolled before the split, and the Dollar Index bounced sharply from within six cents of Hidden Pivot target that’s backstopped by a major trendline. Odds are against nailing the exact high in AAPL, which in dollar terms  is being driven by the most powerful and consequential buying mania in history, but we’ll have to see what the new day brings before we write off the target as just another flash-in-the-pan. The important thing is that many subscribers evidently made hay as AAPL rampaged toward the rally target. If the stock and the dollar have in fact begun major reversals, that would be a very big deal, since every other lunatic trend in motion since March is about to reverse as well.  The Nasdaq 100 did not look toppy at all, but that hardly negates the possibility that it is about to plunge into the molten pit of hell. Regardless of which side of the craziness you’re on, you can cross your fingers and root for a satisfying outcome.

Rick Ackerman September 1st, 2020

Posted In: Rick's Picks

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