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.
Rick’s Picks trading ‘touts’ are for educational purposes only. Past performance is no guarantee of future performance. (See full disclaimer at https://www.rickackerman.com/)
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