DIA’s spirited leaps through two Hidden Pivot resistances since mid-May has made a run-up to the D target at 267.28 very likely. Although I restored this vehicle to the touts list in order to provide an equity-based trading alternative to futures contracts, the juicy ‘mechanical’ entry set-ups we look for have been relatively few and far between. That’s because DIA is usually playing catch-up with index futures at the opening bell, creating bullish gaps that leave our fire-sale bids in the dust. Be that as it may, we’ll continue to look for opportunities as they arise, probably going against the trend in places like the ‘D’ target here. We should be prepared nonetheless to jump on intraday swoons if they come our way.
DIA – Dow Industrials ETF (Last:254.29)