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posted on 28 November 2017

New Dow Target: 24,506

Written by , Rick's Picks

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.

bull.fire


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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.

Click for large image.

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.


If you don’t subscribe but want to join in the fun, click here for a two-week free trial to Rick’s Picks, including access to a 24/7 chat room that draws great traders from around the world.


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