DIA – Dow Industrials ETF (Last:234.33)

My forecast zigged and DIA zagged. Oh well. Now DIA is about to probe the 228.77 midpoint resistance shown in the chart. An easy move through it should be taken as a sign that more upside to at least p2=239.56 remains. The outlandish D target at 250.35 would somewhat exceed a corresponding target at 2881 that I’ve proffered for the E-Mini S&Ps, but we’ll trade each as though the other did not exist. If both vehicles were to reach their respective D targets, it would be as though there had been no bear market at all, just a garden-variety 15% correction. Considering what caused the stock market to collapse in the first place, and the fact that a deep recession is coming under the best of circumstances, the rally would be the most powerful — and ridiculous — short-squeeze in history. That, of course, is the purpose of short-squeezes — in this case to persuade investors that they should never have doubted the advice of the shills and idiots who have been telling them to sit tight. It is predictable that the next leg down will be even more history-making than this psychotic rally. _______ UPDATE (Apr 7, 9:25 p.m.): If DIA falls to the green line (217.97), it would trigger a ‘mechanical’ buy signal. Stay tuned to the chat room if you’re keen on trading this one. ______ UPDATE (Apr 8, 9:18 p.m.): DIA came nowhere near our niggardly 217.97 bid when it dipped slightly in the first hour. A minimum 250.35 is still where it’s headed, but we’ll have to keep looking for opportunities to get aboard. The next potential stumbling block is 239.56, the secondary Hidden Pivot.