If the pattern shown lives up to its promise, we should see the Indoos leap with maniacal energy to the 18486 target within the next week or two . The blue chip average has been in an apparent consolidation since December, but the recent rally to 17591 (point ‘B’ in the chart shown) has created an additional impulse leg that must be resolved soon or go wasted. The entry signal would be tripped on a print at 17914, but if it happens as early as this week I’d be wary of a false start. _____ UPDATE (February 17, 6:55 p.m. EST): Maniacal leap? More like a banana-slug crawl. At this point, and in light of the key target just above in the E-Mini S&Ps, 18486 seems a tad ambitious. Let’s give it another day or two.
