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vox kadavergehorsamkeit
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Bull Market Getting a Little Freakish - Rick Ackerman -

Ackerman has totally lost me with this piece. At first i thought that the 1476.25 figure he used at the top of the article was a typo when the chart below it showed the target being 1647.50. But toward the end of the piece he used 1476.25 again. And why on earth is he using a chart labelled ESM13? Who the hell ever heard of ESM13? It is actually a chart of the S&P 500 as best i can tell. ESM13 would seem to be a CME contract based on the S&P 500. So why not just use a chart labelled S&P 500? ....The potential raise to 1779.75 being equal to a 1,000 point rise of the Dow would only make sense if the chart figure of 1647.50 is the correct number.

Commented 3994 days ago

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Beginning of the headline :The 1476.25 rally target shown in the chart below looked until recently like a good bet to contain the bullish stampede, at least for a while. As of early Wednesday morning, however, it seemed to be giving way. Even though it has been exceeded so far by just 2.50 points, that’s enough to imply that the resistance has been fatally compromised, given the clarity of the technical pattern that produced it. If this “Hidden Pivot” is in fact easily brushed aside, it would be yet one more casualty of a... Read More

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