As stocks continue to rally to new highs in December, I’m watching some key trading pivots. The 2016 Dow Jones yearly trading pivot (Yr2) is at 20029. This should be the next pit stop for the Dow Jones Industrial Average (INDEXDJX:.DJI).
At least, that’s where my pivot point trading sees the Dow Jones Industrials going to by year-end.
As you can see in the chart below, price respects the yearly pivots. In fact, the low last winter was on the Dow Jones yearly trading pivot (Ys1 support) at 15,500.
On January 1st, we will have a new set of Yearly Pivots for 2017.
Dow Jones Industrial Average – Yr2 Yearly Pivot Target
On a side note my “Using Multiple Pivots for Trading Opportunities” webinar has been nominated for best 2016 Trading Education Course at TraderPlanet.com. It’s on special now at PivotalPivots under webinars.
Happy Holidays and Trade the Pivots!
Twitter: @Pivotal_Pivots
The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
