The closest Hidden Pivot above with potential stopping power lies at 236.59. You should trade with a bullish bias until it is reached. If you’ve held a long position on the way up, use a portion of the profits to cushion a stop-loss on any shorts initiated at the target. A 236.75 stop-loss should suffice. I would not recommend a ‘mechanical’ buy if DIA pulls back to p2=228.35 (see inset), but you can use this to set up a ‘camouflage’ trade on the three-minute chart that would limit entry risk to perhaps 0.10-0.12 per share. _______ UPDATE (Oct 25, 8:34 p.m.): DIA has pulled back hard after peaking at 234.70, well shy of the 236.59 target. It remains valid, but we’ll move to the sidelines while DIA catches its breath. _______ UPDATE (Oct 31, 8:08 p.m.): I’ve proffered a bull market target at 23,642 for the Dow Industrials in Wednesday’s Morning Line that corroborates and affirms the one given above for DIA. Check out the Morning Line chart if you want to be persuaded this target could matter._______ UPDATE (Nov 1, 9:46 p.m.): A slight correction is necessary for the DJIA target, to 23,665. This is even closer to the corresponding DIA target noted above. We should watch closely for synchronous tops to form, since this could prove to be a very tradable event. If you place a bet, near-the-money puts with 7-10 days left on them are recommended._______ UPDATE (Nov 12, 6:08 p.m.): Cancel the trade, since DIA’s lovely and usually obliging uptrend has gone all fuzzy on us. The target remains valid, but I wouldn’t devote much attention to it as the new week begins.
