The secondary Hidden Pivot at 288.22 shown in the chart will make a serviceable upside target for the next 2-3 weeks, although we should avoid the temptation of drooling over the prospect of getting short there. I’ll be more inclined to recommend it if we can get make a few bucks on the way up. The best way to do this will be to catch a swing low intraday, possibly on an opening-bar bull trap. Watch this space and the Trading Room if you’re interested. _______ UPDATE (July 14, 7:52 p.m.): So eager were buyers to come charging out of the chute this morning that there was almost no follow-through to Monday’s hard sell-off. DIA now looks bound for the 273.14 midpoint pivot of this chart, at least, but the D target at 297.18 would become an odds-on bet following a decisive push past p. Here’s the chart. _______ UPDATE (Jul 16, 9:08 p.m.): The rally sevened out nearly three points beneath the 273.14, implying buyers are getting fatigued. Let’s see if they get second wind ahead of the weekend.
DIA – Dow Industrials ETF (Last:267.50)
