Although the S&P 500 is about 17 points from a a potentially very important rally target, the Dow Industrials would need to rally 300 points — equivalent to about 38 S&P points — to reach a target at 18428 of equal significance. It is shown as ‘p2’ in the accompanying chart as a Hidden Pivot midpoint resistance on the monthly chart. The target is of particular interest because it closely coincides with a 184.04 target I’d drum-rolled in DIA. To deal with this seeming discrepancy, I’ll recommend shorting DIA or the E-Mini S&Ps if and when the latter reaches its 2138.00 target; and repeating this strategy if DIA eventually goes on to achieve 184.04. I will also suggest taking home at least a small short position over the weekend even if the lower target (i.e., 2138.00) is NOT achieved. This could be made more difficult if the broad averages fall hard on Friday, so check the chat room for real-time guidance.
