The 2728.25 rally target we’ve been using remains viable and has kept us on the right side of the move — which is to say, in a profitable groove and out of trouble. Buyers stalled very precisely Friday at a lesser Hidden Pivot at 2715.50 (see chart inset), but the subsequent pullback has been shallow and implies they’ll be back at it when the new week begins. Although I’d suggested earlier that you consider shorting 2728.25 with a tight stop if you’ve made at least $1000 on the way up, I have no great enthusiasm for the trade. Moreover, I’ll suggest raising your sights to 2759.00, the ‘D’ target of this pattern, which was created by sliding the point ‘A’ low down a level. I am confident the target will be reached because the point ‘B’ high of the pattern decisively exceeded the imposing ‘external’ peak at 2592.00 recorded in mid-December, as a good impulse leg should.
