It creeps me out to think that if the Dow breaks out here, our next logical target would be somewhere up around 15000. Fortunately, there are several lesser upside targets that comport more easily with the not unattractive idea that the broad averages are close to the Mother of All Bull Trap highs. Assuming yesterday’s top at 14105 gives way, a Hidden Pivot at 14142 is my favorite of the bunch, probably because a mere 70-point rally from Wednesday’s settlement is all it would take to turn the last few holdouts super-bullish.
Today’s chart shows not only that target, but several more, each persuasive in its own way, along with their respective midpoint resistance pivots. I have used a separate color for each pattern, and you should consider the chart as a whole a “matrix” of the kind discussed in the final hour of the Hidden Pivot Webinar. Trading the various price points will be up to you, but each will probably be worth at least the small risk incurred in doing so via camouflage. Fills should be reported in the chat room if you want me to track positions, whether long or short.