The 2117.25 rally target I proffered here late Wednesday is very much in play, since a short squeeze tonight has obliterated a related Hidden Pivot midpoint resistance at 2084.25. Short-term, the move targets a minimum 2100.75, the secondary pivot of the pattern displayed here earlier (see archive). Practically speaking, the squeeze began an hour before the opening bell on Thursday. Selling had dried up overnight with the Mini-Dow off about 100 points, and DaBoyz seized on this to run stocks higher for most of the day. If you’ve been waiting to get short, the range between the 2114.25 target shown and 2117.25 looks like an opportune level to try it. If you do, my strong recommendation is that you get long first for the remaining 30-or-so points to the target. Any profits thereof would provide a generous cushion for stopping a short from within the target range.
