The 18028 rally target shown is slightly below the 18035 target we’d been using. It figures to be a high-odds spot for a precisely tradable top, since it is closely equivalent to the 2126 target we’ve held in prospect for the E-Mini S&Ps. The difference is that if the respective targets are reached, the S&Ps would be at new record highs while the Dow would be more than 300 points below them. We’ll treat the two targets discretely, since it’s conceivable that an important top for the stock market could occur with the formation of a ‘divergence’ like the one I’ve implied. For purposes of getting short, I’ll recommend buying near the money DIA puts expiring in three or four weeks if and when the cash DJIA gets within 10 points of 18028.
