Bearish Drumbeat of Top Gurus Quickens

by Rick Ackerman

There are numerous bullish ABC pattern big and small pushing the broad averages higher, but I’ve used a relatively modest one to project a 2303.00 rally target for the E-Mini S&Ps that could be hit within the next day or two. My instructions are ostensibly geared toward getting long for the ride, but a potentially juicier opportunity could come from getting short at the target. We’ve been quite successful at this game in the past even though the bull market has always eventually stopped us out of whatever portion of our position we’d held for a swing at the fences. Let me add that, for reasons of objectivity, although I typically tune out the technical forecasts of colleagues, even the ones I greatly respect, it’s difficult to ignore the quickening tempo of their bearish drumbeat lately.

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