Dow 27,463 Still Looks 'Interesting'
The bull market has been chugging along for more than ten years, so there's little point in pretending we know precisely where or when it will end. However, neither should we ignore the fact that the Dow, having traded as high as 27,399, is mere millimeters from a key 'Hidden Pivot' resistance at 27,463. As a practical matter, because this is a logical place for a top of at least middling importance to form, we can lay in a small put position just to have a horse in the race. Tune to the Rick's Picks Trading Room for more-detailed guidance in the week ahead. We'll be looking to buy a small quantity of put options with 3-4 weeks left on them and which sell for 0.80 or less. Use 274.42 for a target in DIA, since it is closely equivalent to the one at 27,463 given above.