DJIA – Dow Industrial Average (Last:10067)

Dow Industrial Average (DJIA) price chart with targetsOnly 471 more points to go before the Indoos reach the bearish, 9595 target (or perhaps 9534 if any lower) advertised here earlier. What then?  It’s difficult to imagine that the blue chip average will not take a tradable bounce, but if the Hidden Pivot is hit in the throes of a sky-is-falling crisis, it could conceivably spell more downside to at least 8559, the midpoint support of the pattern shown in the chart. In any event, it will only require a print below 9678 this week or next to create the first bearish impulse leg on the weekly chart since March 2009.