The weekly chart shows how swings of as much as 130 points — that’s about 1000 Dow points! — could amount to little more than noise as the summer grinds on. More immediately, the hourly chart is working on a bullish impulse leg that has short-term follow-through potential to as high as 1328.70. Key resistance lies at 1318.00, the sibling midpoint, but once it’s breached, the rest of the trip could be a romp.  Both targets are predicated on the survival of a so-far point ‘C’ low at at 1307.25 recorded on the hourly chart at 7:30 p.m. EDT.