The Qs have pulled back to the neckline of the head and shoulders bottom pattern shown in the above chart. The HS Bottom target is 34.89. The next move of consequence should be a rally of at least 5 days and possibly 10 days with an ideal cycle top date at the end on January and a near term swing turn date of January 22. The ideal cycle top date is the top of the 11 week cycle which 1/4 of the 10 month cycle. The swing turn date is a Gann based on 144 calendar days. The previous Gann turn date by this method was January 6, the exact day of the recent top, so January 21/22 may hold some significance.

Currently, the upper channel line (not shown) of the rally from November 21 projects a high in 5 days around 34.10. The Dow projects a high in 5 days around at 9789, which seems unlikely, but certainly possible. Only a break below the December 29 lows will alter this probable outcome.