DJIA – Dow Industrial Average (Last:33,820)

I am temporarily adding the Dow Industrials to my list of touts in order to show bull market targets at 34,355 and 37,093 that correspond to the ones I’ve flagged in the June E-Mini S&P. They are closely comparable, reflecting potential thrusts of either 1.6% of 9.7%, depending on whether p2 or D, if either, stops the bullish stampede.  The respective targets for the E-Mini S&P lie 2% and 10% above, implying that a last-gasp rally could show slight relative strength compared to the Dow.  I should mention that the DJIA chart is much less compelling than the E-Mini’s, since it uses a ‘marquee’ low rather than a one-off, and because the point ‘B’ high has conspicuously failed to exceed the record high notched in March 2020. Because of these flaws, I would not ordinarily pay much attention to the Dow chart, let alone use it to trade or project a top. However, because it aligns so closely with the textbook-perfect chart of E-Minis, it is at least worth pondering, and perhaps using to get short at p2 or D with tight stops. _______ UPDATE (Apr 20, 6:47 p.m. ET): Two days of weakness is unusual, but a third on Wednesday would be concerning. Even if so, it is grotesquely overdue. _______ UPDATE (Apr 22, 10:20 p.m.): A rally target at 34,549 corresponds to the one at 345.33 given in my latest DIA update. Either is short-able with the tightest stop-loss you can abide, or via an rABC set-up with a very small a-b leg.