Much of the dollar’s rise this year has taken place with stochastic indicators extremely overbought, a common trait of powerful, enduring rallies. That’s why the 117.17 target shown is likely to be hit before a significant correction sets in.  The pattern has signaled two winning trades – a short from p2=114.80 and a ‘mechanical’ buy at x=110.05 — implying shorts from 117.17 would enjoy similar success. That is notwithstanding the pattern’s obviousness. We don’t typically trade this vehicle, but because it affects everything else, we monitor it closely. A strong dollar threatens to unravel the Fed’s crackpot schemes and asphyxiate debtors both big and small around the world who owe dollars. _______ UPDATE (Oct 17, 9:18 p.m.): D=111.71 is my minimum downside objective, but this Hidden Pivot support must hold if bulls are to regain dominance. Here’s the chart. _______ UPDATE (Oct 19, 10:20 p.m.): DXY has taken a robust bounce from 111.77, six cents above the target flagged above. This is encouraging, but the rally would need to surpass the 113.42 peak recorded last Friday for the dollar to get back on a roll.