This hoax could hit 1945, a Hidden Pivot target, over the next week or two, but first it will have to get past the 1881.50 target shown. That’s been my minimum price objective for a while, and the fact that such a modest target is taking days to achieve suggests that short-covering is pretty well spent, at least for the very near-term. Still, the pullbacks have been shallow, giving bears no real respite, and it is therefore only a matter of time before they reach critical mass again to catalyze the next stab higher. Traders looking to board for what remains of the rally should look for opportunities on charts of 5-minute degree or less. The target is short-able with a three-tick stop-loss, but I wouldn’t suggest impeding the flow too aggressively.
