DJIA – Dow Industrial Average (Last:20071)

Buyers demolishedI drum-rolled a 21,101 target a while back that lies a little more than a thousand points higher. An adjustment I’ve just made may seem like splitting hairs to some of you, but in the interest of getting the rally exactly right, I’ve lowered the target a tad, to 21049. The change entailed simply shifting to a different point ‘A’ low, in this case the 15503 ‘secondary’ bottom recorded almost exactly a year ago. This does not alter the fact that buyers of the Dow Industrials crushed the midpoint Hidden Pivot resistance of the pattern shown. While the original pivot was 26 points higher, in either case the implication is the same: The move is so powerful that there is probably no stopping it until the D target above 21,000 is reached. There are many ways to trade this prediction, but it will probably be easiest to focus on opportunities in DIA.  Stay tuned to the chat room and The Scoreboard if you care.