On the daily chart, a succession of lows beginning with last July’s 8087 has given us a series of corresponding rally targets all the way up. The next projects a potentially tradable top at 11312.06 (A=92953 on September 3, 2009), although the point ‘A’ low associated with it doesn’t look substantial enough to produce a major top. The maximum high one can project using the same vantage point is 12471.68, a Hidden Pivot that we will want to short aggressively if and when it is achieved. The midpoint pivot associated with that number held up for all of two days, hinting of strong buying power beneath the surface. _______ UPDATE (12:45 p.m. EDT):  In the chat room last night and today, “Emerald” homed in on an 11254 target that nailed the so-far high, 11258.01.  The pullback has since gone as low as 11222, so partial profit-taking was in order for anyone who shorted the top.  My advice in the chat room was to use the Diamonds to get short, but the same advice would apply.