DIA – Diamonds (Last: 91.66)

The Diamonds blew past a 91.96 Hidden Pivot target, stopping us out of some September 90 puts that we held very briefly for a small loss. The rally was just a run-of-the-mill short squeeze triggered by a garden-variety opening-bell gap, but notice in the accompanying chart how it managed to exceed a very subtle look-to-the-left peak made back in November. This spells more trouble, as far as I’m concerned, for any bear who was counting on reality to reassert itself in the stock market sooner or later.  On the basis of this subtle signal,  my hunch is that relief in the form of sanity in the markets has been postponed indefinitely.