Some Targets for This October 'Surprise'

Rick Ackerman Rick’s Picks

The Dow has collapsed from a high that fell just shy of the 27,251 target I’d drum-rolled. By day’s end the selling had slightly exceeded a key low at 25,608 recorded on August 23, although not by enough to rule out a possible ‘counterintuitive’ bounce from these levels. Failing that, however, we should expect the Indoos to home in on an even more important low at 24,965 recorded two months ago. At that point the Dow will have shed 7.3% of its value since hitting an all-time high eight days ago at 26951. Worst case, Hidden Pivot targets aside, would be a test of the 23997 low carved out on June 28.

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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 hits two-day highs near 1.1820

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GBP/USD reclaims 1.3600 and above

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Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

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Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

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XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.