Has Henny Penny seen the small caps lately?

Rick Ackerman Rick’s Picks

Henny Penny or more commonly called Chicken Little in the U.S. is a folk tale about a chicken that believes the sky is falling when an acorn lands on its head. That’s what I see when I turn on television everyday. Just one Henny Penny after another proclaiming the end of the bull market. The only problem is Henny Penny hasn’t been paying attention to the Russell 2000 which this week broke out to new all time highs. There are a pair of P2 and d targets (1658.15 and 1637.49

respectively) directly above which we can use to gauge the strength of this market. Whether we get a tiny overshoot or a miss of each target will provide us with a wealth of information as to the state of this bull market. At the end of the folk take Henny Penny and all the other animals that follow Henny Penny are invited into a lair by a fox and all of them are eaten.

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Rick Ackerman

Rick’s Picks

Barron’s once labeled Rick Ackerman an “intrepid trader” in a headline that alluded to his key role in solving a notorious pill-tampering case.

EUR/USD looks offered below 1.1900

EUR/USD keeps its bearish tone unchanged ahead of the opening bell in Asia, returning to the sub-1.1900 region following a firmer tone in the US Dollar. Indeed, the pair reverses two consecutive daily gains amid steady caution ahead of Wednesday’s key US Nonfarm Payrolls release.

GBP/USD slips back to daily lows near 1.3640

GBP/USD drops to daily lows near 1.3640 as sellers push harder and the Greenback extends its rebound in the latter part of Tuesday’s session. Looking ahead, the combination of key US releases, including NFP and CPI, alongside important UK data, should keep the pound firmly in focus over the coming days.

Gold the battle of wills continues with bulls not ready to give up

Gold remains on the defensive and approaches the key $5,000 region per troy ounce on Tuesday, giving back part of its recent two day. The precious metal’s pullback unfolds against a firmer tone in the US Dollar, declining US Treasury yields and steady caution ahead of upcoming key US data releases.

Bitcoin's downtrend caused by ETF redemptions and AI rotation: Wintermute

Bitcoin's (BTC) fall from grace since the October 10 leverage flush has been spearheaded by sustained ETF outflows and a rotation into the AI narrative, according to Wintermute.

Dollar drops and stocks rally: The week of reckoning for US economic data

Following a sizeable move lower in US technology Stocks last week, we have witnessed a meaningful recovery unfold. The USD Index is in a concerning position; the monthly price continues to hold the south channel support.

XRP holds $1.40 amid ETF inflows and stable derivatives market

Ripple trades under pressure, with immediate support at $1.40 holding at the time of writing on Tuesday. A recovery attempt from last week’s sell-off to $1.12 stalled at $1.54 on Friday, leading to limited price action between the current support and the resistance.