TARGET reached for DJIA 11-Nov-2004

TARGET for DJIA reached today!!
As predicted on Thursday, October 28, we predicted a DJIA target on this swing of 10312. Today that target was reached and the market closed at 10314.

I posted on Monday, October 25 that the market should go up until election day. On Thursday, 10/28 the target price was predicted and I said that the market would take a little longer to make the target. A little longer was just two days. These methods caught the full swing of the move, from the open on Tuesday, October 26 of 9750, or to be more conservative, entry above the high of the previous day (9827) up to 10312 or between 485-562 points.

Now, the next question. Where does the market go from here? Since the target level was reached today, the market will either pause tomorrow, possibly going a little higher or reverse course and go lower. I expect that this move up is exhausted, or just about done. This is the time to stand aside, according to the methods outlined here and see what the market does, but I'd look for lower levels on the Dow next week.