-- Published: Tuesday, 8 November 2016 | Print | Disqus
Lest we be seduced by the wishful notion that the Comey rally could be the bull marketís dying gasp, consider the chart featured with this tout. It suggests that a nearly 1500-point rally to 19728 is possible for the Dow Industrials if all hell breaks loose. In fact, a theoretical buy signal for a ride to that target has already been tripped, and the Indoos need only spike through the red line, a key Hidden Pivot resistance that lies just 132 points above Mondayís high, to make the target an odds-on bet. A lesser, bullish pattern with the potential to hit 19509 would trip a similar signal if buyers touch 18305. Thatís just 42 points above this morningís high. In any event, we shouldnít underestimate DaBoyzí ability to turn a merely nasty short squeeze into a rabid one. Even they donít know at this point whether this is possible, but you can bet they will leverage to-the-max whatever occurs on election day, especially if Hillary wins. Both of the rally patterns have three Hidden Pivot levels that can be used to get long or short with little risk, depending on your mood. For a detailed look, check out the recording of todayís Ďimpromptuí tech-analysis session online, since it offers precise, tradable coordinates for the Dow that are designed to take the randomness out of whatever nuttiness is about to ensue. Iíll post a link to the recording in the chat room shortly. If you donít subscribe, you can access it by clicking here for a no-risk, two-week trial subscription to Rickís Picks. That will also get you into the chat room, where savvy traders from around the world share ideas and tactics 24/7.
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