by Rick Ackerman
RickAckerman.com
I’ve avoided the pandemic, politics and economic doomsday as topics recently because there’s only so much one can say about them. This is especially true of the coming bear market. Coming exactly when, you might ask? Of course, even the very best of us gurus is unlikely to produce the correct answer, other than in after-the-fact promotional material that shamelessly bends the truth. My own technical work suggests the market may already have topped, since most of the major indexes have stalled within inches of Hidden Pivot targets I’d drum-rolled weeks or even months earlier. IWM, for one, has yet to surpass the 234.82 objective disseminated to subscribers six weeks ago. A proxy for small-cap stocks, it peaked at 234.53 on March 15 and has sold off moderately since. Similarly, a QQQ target at 337.10 that first appeared here five weeks ago caught the peak of a spike on February 16 that hit 338.19. And there was a well-advertised, very long-term DIA target at 327.27 that has been exceeded only slightly so far.