$DIA – Dow Industrials ETF
|Today’s wilding spree demolished two ostensibly important rally targets we were using for DJIA and DIA at, respectively, 23,665, and 236.59. The implication is that bulls remain well nigh unstoppable. The rally produced a small trading loss of about $80 on some DIA puts purchased for 0.96 that were stopped out when they hit 0.75. The ease with which buyers exceeded the targets suggests they are well capable of achieving significantly higher levels. Accordingly, I’ll suggest using the 245.06 target shown for now, although it won’t be in play theoretically until such time as p=238.71 has been decisively exceeded. If the 245.06 Hidden Pivot is reached it would equate to a Dow rally of about 700 points from current levels. There may be an opportunity along the way to initiate long positions ‘mechanically’ with risk under very tight control, so stay tuned to the chat room and check ‘Email Notifications’ on your account dashboard if you want to be apprised in real time.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.