DJIA – Dow Industrial Average (Last:12261)

I’ve alluded in today’s commentary to a 13182 target, but this chart shows its provenance in greater detail.  Notice that the 12523 midpoint pivot, which is about as high as I think the Indoos could actually get, lies somewhat shy of  May 31’s mini-Matterhorn at 12574.  However, if a thrust were to exceed that last number, as well as the 12633 peak just to the left of it, that would all but clinch the move to 13182, notwithstanding the daunting resistance of early May’s 12875 peak.