DIA has been struggling too hard to get past a midpoint resistance at 221.11 to suggest it’s on its way to the 236.90 ‘D’ target of the pattern shown. Although there’s a good chance last Thursday’s high at 225.87 will prove to be an important top, I’ll hold off on shorting strategies until this vehicle catches up with index futures Monday morning. While I’ve put out a paper-trade in ES that called for buying this evening’s opening at 2459.00, this advice does not apply to the Diamonds because they trade only during U.S. daytime hours and have traced out a less bullish pattern. Of course, the two vehicles cannot go their separate ways, but it’s possible the E-Mini S&Ps can fulfill their rally target outside of regular hours. ______ UPDATE (Mar 30, 10:10 p.m. EDT): The Indoos have spent four days screwing the pooch near p=221.11, but today’s close above this pivot implies minimum upside over the near term to at least p2=229.01. _______ UPDATE (Mar 31, 7:22 p.m.): Zzzzzzzzz. No change even though DIA closed below the midpoint Hidden Pivot today.
