DIA – Dow Industrials ETF (Last:225.00)

By popular request, I am going to start tracking this ETF vehicle more closely in order to give subscribers an alternative to futures contracts for purposes of trading and portfolio positioning. We got off to a good start today when a 221.11 rally target that I posted in the Trading Room came within less than a point of nailing the top of the session’s rabid, short-squeeze rally. Numerous subscribers reported buying put options, or interpolating short triggers in other vehicles to produce a quick, lucrative score that in some cases exceeded $1,000. Now, a fall beneath C=205.32 would negate the bullish pattern though not necessarily end the manic buying binge of the last two days. Alternatively, a close decisively above p=221.11 would put the 236.90 target in play. ______ UPDATE (March 26, 8:16 p.m. EDT): The vicious spike in the final minutes means bears are still badly on the hook. Use p2=229.01 as a minimum upside objective (see inset), and thence D=236.90 if it’s decisively exceeded.