Beware of a Fleeting Lapse Into Sanity

by Rick Ackerman

I’ve used the word ‘ominous’ twice below. One reference is just small-potatoes ominous and concerns the relentless slide in the price of Snipp shares (see the last tout in today’s list). The other reference, however, foresees continuing weakness in the price of crude — a development which, if it comes to pass, could hold very grave consequences for the global banking system. This outlook would seem to flout my current, very bullish forecast for stocks. It’s not chiseled in stone, however, and any one of the sequentially higher targets I’ve used to project 2313 for the E-Mini S&Ps (see below) could prove to be a fatal obstacle to a bull market now in its 89th month. The nearest of them, 2149.25, lies just 12.50 points above Monday’s high. Whatever happens, we’ll be watching each of these Hidden Pivot resistance points closely for signs of terminal fatigue, since stocks are extremely vulnerable to even a fleeting moment of mass sanity.

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