Once the Dow Hits 19489, There Are No Guarantees

The likelihood that Obamacare will be repealed should be enough by itself to jump-start the economy, since this would effectively rid us of the largest single tax ever levied on the American middle class. Even so, the Trump Rally appears to have stalled, perhaps for want of further details.  You can count on a Dow rally to at least 19,489 however. That’s 367 points above Tuesday’s closing price — a Hidden Pivot target that I would rate as very high-confidence. Another at 19727 is not quite in-the-bag, but we shouldn’t be too surprised if the Indoos get there before the new year. After that?  I can offer no guarantees, although it’s easy to imagine a bull trap getting sprung to devastating effect from here on up.