Bullish and Bored? Here's the Cure...

The Morning Line [Published Sunday, March 24, at 7:30 p.m. EST]( Bullish and Bored? The Fed's main job supposedly is to manage our expectations, but have Powell & Co. painted themselves into a corner? At the moment, it would appear that investors have no clue what to expect. That wouldn't necessarily be a bad thing, except that their default mode has been to push stocks with multitrillion dollar capitalizations into unsustainably steep rallies. This trend is growing more dangerous and delusional by the week, and even a slight feint toward monetary clarity by policymakers could pop the bubble, turning an economic boom quickly into a global depression. Meanwhile, the Fed's credibility suffers every time it attempts to suggest that inflation is mellowing. What the hemming and hawing suggest in reality is that no one on the Open Market Committee has bought gas or groceries in a long time. We continue to believe the bull market is near an end and that it could occur literally any day. Yeah, we know, you've heard that before, and you long ago ran out of patience for permabears. We continue to serve up doomsday porn anyway because the bullish case is just too fucking stupid and boring to write about. However bullish you might be, let's face it: Stocks do not remotely deserve to be trading at these levels, and only an imbecile or someone paid to lie about it would argue otherwise. Lunatic Sector So how soon might we expect the market to go into a hellish dive? The chart above suggests the S&P Index could make an important top just 2.6% above these levels. We like the target because there is so little drama in the chart pattern that produced it. However, in order to entertain the possibility it will mark the end of the bull market, we must put aside the observation that some key stocks in the institutionally blessed lunatic sector -- specifically Microsoft, Nvidia and Facebook -- have already topped within a hair of major Hidden Pivot targets. NFLX in particular looks to have ejaculated last week with a high at 634.36 that exceeded a longstanding target at 632.47 by just 0.3%. If you care, make a mental note of 5428.25 as an opportune place to short the bejeezus out of the S&Ps. And if we're wrong, don't let it distract you from the certainty that bear markets do happen, and that this bull is w-a-a-a-y overdue for a comeuppance. [View Post on the Rick's Picks WebsiteÂ]( Here's How to Jump In... Not sure of the best way to get started? Follow these simple steps to become a consistently profitable trader. Step #1Learn The Basics for FREE! [Impulse Leg Toolkit]( ... [Butterfly Spread Strategy]( [Fundamentals of the Hidden Pivot]( Step #2 Get Rick's Trade Recommendations [Free, Timely Touts]( ... ['Requests' Sessions]( [Free Trial Subscription]( [Select a Subscription Plan]( Step #3Learn to Use the Hidden Pivot System Yourself [Fundamentals]( ['Mechanical' Trade Set-Ups]( [']( Trade Set-Ups]( [The Basics, Plus All Six Trade Set-Ups]( [Start My Subscription]( Copyright © 2019+ Hidden Pivot Enterprises, All rights reserved. Disclaimer - This email is for information purposes only and should not be considered personalized advice or a solicitation to buy or sell any securities.   [Unsubscribe]( Rick's Picks - Hidden Pivot Enterprises PO Box 270646 Louisville, Colorado 80027 United States