The 14572.39 target shown is one that I like, for reasons that seasoned Pivoteers will appreciate. Mainly, it’s the clarity of the ABC price points amidst a hot mess of steroid-addled, psychotic upwardliness.  When I say that I ‘like’ the target, I mean to imply that it has the potential to stop this rally in its tracks.  This would be no small feat, since the stock market’s surreal ten-day winning streak reportedly hasn’t been equaled since 1996.  Keep in mind that our target is not chopped liver, as I am fond of saying, and so if it is easily breached we should infer that bulls are preparing to rampage next week, pushing the rally into an even steeper parabola. Were that to occur, my minimum upside objective would shift upward to 14981.16.  In any case, subscribers are encouraged to improvise tightly stopped (i.e, 2-3 points) shorts from 14572.39. _______ UPDATE (March 18, 1:14 a.m. EST): Friday’s 14539 finishing stroke missed our rally target by 32 points, a wider margin than I might have expected. The implications are neither bullish nor bearish as yet, but the outlook would shift toward menacing if the hourly chart goes impulsively bearish without 14572 having been hit. That would imply a print below 14411, a prospect that seems quite possible if DaBoyz are not able to bring stocks back from Sunday night’s Cyprus sell-off before the opening bell.  The significance of 14411 is shown in the new chart. _______ UPDATE (12:20 p.m.): This morning’s low hit 14404, but the short-squeeze recovery has been so ferocious as to sneer at any bearish interpretation.  Even so, the selloff that follows this rally will hold the key to our immediate outlook. Keep in mind that if that selloff were to occur from a new all-time high, it would by definition be a pullback that we should buy.