The short-squeeze from Friday’s intraday low missed triggering a ‘counterintuitive’ buy signal at 265.41 by a hair, but there would have been no compelling reason for us to take the signal ahead of a weekend so fraught with anxiety. If the green line is hit at the start of the week, it would trip a valid signal, nonetheless — one indicating minimum upside to p=269.42, or even to as high as D=277.42. We can use the pattern to take the stock market’s measure ahead of the election, but any trading opportunities that it might afford us will need to be considered intraday. _______ UPDATE (Nov 2, 9:03 p.m.): One Hidden Pivot target down, one to go: 277.42. Used it as a minimum upside objective if the rally continues. _______ UPDATE (Nov 4, 10:35 p.m.): A gap-up opening impaled the 277.42 target given earlier in the week, clearing a path to the 285.75 target shown here. It can be used not only as a minimum upside projection for the near-term, but also as a place to try shorting with a tight stop-loss or an rABC.
DIA – Dow Industrials ETF (Last:278.43)