There is no important rally target in this vehicle that corresponds to the 2138 Hidden Pivot I’ve drum-rolled in the E-Mini S&P. We can still use the latter to ‘interpolate’ a DIA short, buying out-of-the-money puts with a June 12 expiration if and when the E-Mini S&Ps closely approaches 2138. Keep the order small, and stop yourself out if the options trade for 0.20 less than you paid. ______ UPDATE (May 28, 7:38 p.m. EDT): A target at 184.04 that I flagged here earlier should be held in mind in case the E-Mini S&Ps blow past their target at 2138.00. The Dow and the S&P 500 are seemingly out-of-synch, but we shouldn’t let that stop us from tying to short either or both vehicles at their respective targets. Check out today’s tout for the cash DJIA for another angle.
