The Indoos took out our last major rally target, at 15890, with such ease that they must be presumed capable of reaching the 17056 objective shown — a BIG number whose provenance goes all the way back to 1995. We shouldn’t expect this Hidden Pivot to work precisely, because there’s a second point ‘C’ low in the middle of the pattern, but it should do just fine as a minimum upside objective. The smaller ABC rally at the tail end has a p midpoint at 16087 that was missed by 57 points on the last thrust. However, this failure would not become explicitly bearish unless the Dow were to dive below 14551 without having reached p. For now, however, 16087 can serve as a minimum upside objective for the near term.

DJIA  16087 p