Rick Ackerman and Technicals – Tue 16 May, 2017

A bullish outlook on the markets from an admitted perma-bear.

Rick is an admitted perma-bear on the US markets. However when looking at his charts he is able to put his bearishness aside. That brings us to his current outlook for the Dow and S&P that is higher. We also discuss gold and some of the levels both higher and lower that Rick is seeing.

Click here to visit Rick’s website and check out his morning line chart.

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Featuring:
Rick AckermanCory Fleck
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Comments:
  1. On May 16, 2017 at 11:16 am,
    Matthew says:
  2. On May 16, 2017 at 11:19 am,
    Silverdollar says:

    20,317? From 21,000?

  3. On May 16, 2017 at 11:29 am,
    Matthew says:

    For those who can see it, this monthly chart of GDM looks very promising:

    http://stockcharts.com/h-sc/ui?s=%24GDM&p=M&yr=11&mn=0&dy=13&id=p59868553976&a=521133986

  4. On May 16, 2017 at 11:32 am,
    Matthew says:
  5. On May 16, 2017 at 12:39 pm,
    confused says:

    Matt,
    Do you think PPP’s BB’s tighten more before it moves up from here or do you think a move is imminent? It looks like it might run be the end of the week. That 200 day is miles away….lots of room to levitate if not now maybe later in the November.

    • On May 16, 2017 at 1:04 pm,
      Matthew says:

      If the rest of the sector cooperates, yes, PPP could have a decent run soon. Today’s selling was aided by the Desjardins downgrade — a contrary indicator in my book but such news does have an impact in the very short term.

  6. On May 16, 2017 at 1:20 pm,
    OOTB Jerry says:

    Top Hedge Fund managers pay tumbles to lowest since 2005…..zh….
    Looks like a FANG bite…..

    • On May 16, 2017 at 1:21 pm,
      OOTB Jerry says:

      The Hedges need to call up Goldman Sakers for some experience in rigging …..

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