We were using a 25,956 rally target on Friday after the Indoos pushed past a lesser Hidden Pivot resistance at 25529. However, the failure of the rally top to exceed the external one at 25,608 recorded on October 19 put the uptrend temporarily in jeopardy, triggering a ‘CI’ short at 25,207 on the subsequent selloff. It projects to a minimum 24,835, a midpoint support tied to a ‘D’ downside target at 24,092. A tradeable bounce from very near p=24,835 seems very likely, so be ready to bottom-fish there with a very tight stop-loss. The equivalent support in DIA, which is optionable, lies at exactly 248.14._______ UPDATE (Nov 5, 5:39 p.m.): What can one say on a day when the Dow has risen nearly 200 points while the erstwhile darlings of the digital world got savaged? Knee-jerk rotation was the completely dominant theme, but there is little point in trying to predict its course until after the election results are in.
