I’ve reproduced the DJIA monthly chart to remind Rick’s Picks followers of a 17622 target that I first advertised here about a year ago, when the Indoos were trading more than 2000 points lower. Although there are other rally projections that can be derived from patterns of larger degree, this one has the virtue of offering clarity, if not necesarily an ironclad guarantee of a bull market top. The target lies 356 points above Thursday’s settlement price, implying there will be a rich opportunity for bulls and bears alike to profit on the long side ahead of any shorting you might be inspired to attempt when 17622 is reached. The target could take a couple of days to reach, or a week or even longer. But my gut feeling is that it will be reached, especially if the S&P 500 cash index blows past a key target at 2028.
