There is much to like in the pattern shown. For starters, the midpoint pivot at 22,563 is located nicely in the middle of nowhere, just the way we like ’em. That means a particularly easy move past it could be confidently expected to hit D=22,907 at least. The red line is tempting to short, since it looks solid enough to repel an initial barrage, no matter how fierce. But if it instead melts away, that would all but ensure a finishing stroke to 22,907. That number could be reached in a week if the uptrend accelerates for another day or two. _______ UPDATE (Oct 3, 8:38 p.m. EDT): Buyers chomped through the 22563 pivot identified above in no time, staying well on track to hit 22907. There is just one additional hidden resistance worth noting at this point: 22735, the pattern’s ‘secondary’ Hidden Pivot. It can serve for now as a minimum upside target. I will signal if this vehicle trips a ‘mechanical’ buy signal at either x or p in perhaps 4 to 6 days, so be sure to check ‘Email Notifications’ on your account page if you want to stay apprised in real time._______ UPDATE (Oct 8, 6:30 p.m.): The Dow made no headway on Friday, but because it finished near the top of its range following a shallow pullback, bulls would appear to be well. ________ UPDATE (Oct 9, 5:46 p.m.): A dead day. It suggests there is zero buying power, at least on the surface. I will hazard no prediction for Tuesday, since it looks like a coin-toss at the moment.
