Rick Ackerman joined us today and his charts are saying that he wants to see higher highs in the market. However, with the market swinging in a violent range it just feels like a top. From a purely technical standpoint, his hidden pivots aren’t getting hit. Clearly profits down due to the dollar’s strength and the decline in international profits when adjusted for currency translation. Caution is the byword. You can’t underestimate the power of the dollar’s move.
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