DJIA Dow Industrial Average (8063)

9101If the Dow is about to blast off, as some in the chat room evidently fear, the evidence is nowhere to be found on this chart. I’m not saying it couldn’t happen, but from a Hidden Pivot perspective, any rally over the near-term that falls shy of the 8217 peak should be regarded as mere noise. That’s just 2% above curent levels, so the outlook could change in a hurry, but we should ask no less of the Indoos before we infer that yet another bizarre buying binge is erupting. _______UPDATE: And blast-off the Dow did, blowing to smithereens the minor resistance at 8217. As of 1:20 p.m., the Indoos were trading around 8282, looking as though they could go as high today or Monday as 8395, a Hidden Pivot target with no special pedigree.