Okay, so I couldn’t help myself. Just when you thought I’d run out of bull-market targets, here is yet another — and it’s not even based on the Hidden Pivot Method. Still, the trendline looks very appealing, and besides, it’ll give us something to shoot at as the lotus eaters force stocks higher into year’s end. The trendline comes in at around 28,692 on Christmas Eve, and that seems as logical a place as any to look for a potentially tradeable top. We’ll attempt to buy some cheap DIA put options if and when the Indoos get there, so stay tuned. More immediately, a caveat: The stock market has felt heavier than usual these last two days, and buyers will have to pick up the pace to avoid doing a Lomcovák. without having achieved the target. _______ UPDATE (Dec 19, 6:01 p.m. EST): The pace quickened with a moderate rally, but this was not sufficient to trigger a short-squeeze. The week has put most traders in a coma, so don’t be surprised if Friday shocks us by being interesting.
DJIA – Dow Industrial Average (Last:28376)