We’ve been using a 25278 target for quite some time, but Friday’s close above it caused me to take another look at DJIA’s intraday charts. As things have developed, they divulge an even more compelling target at 25392, so let’s use it as a minimum upside projection. This is about 60 points higher than a corresponding target I’ve flagged for DIA, but the two vehicles are not perfectly synched, so the difference probably won’t matter for trading purposes. This target is the last very clear one that can be extrapolated from the intraday charts, and it looks like a decent bet to stop the crazed herd in its tracks. If the Indoos simply plow right through it, though, take that as a sign that there is still considerable buying power remaining to be expended.
