The Dow Industrials climbed significantly above a very promising rally target we’d been using since November to stay on the right side of this raging bull. This suggests there is still quite a bit of unspent buying power percolating beneath the surface. I identified a couple more important-looking Hidden Pivot targets up to around 25,000 during Wednesday’s weekly tutorial session, but we’ll take then one at a time, since one can never know for sure when the bullish tide will reverse with a vengeance, as it must. From the look of things, it’s not likely to happen this week. Retracements were shallow throughout the session, implying that shorts remain badly pinned to the ropes.
Shorts End Day Still Pinned to the Ropes
- March 2, 2017, 4:02 pm
Ides of March at work….see recent remarks on ES by R(oss)ay C(lark)harles of technical analysis…