The Dow’s intraday low on Thursday came within 0.22 points of the crystal-clear, 21750.54 target shown. I hadn’t noticed this because I don’t track the Industrial Average diligently, but it is surely worthy of our attention. If the Hidden Pivot support were to get trashed on Friday or next week, it would be the first time that an ostensible correction pattern of daily-chart degree had exceeded its ‘d’ target since May 2016. The bull market survived that one, but the Indoos were not in nosebleed territory at the time.  They’ve got much farther to fall now, as you can see in this chart. The roll-down from way on high looks ominous, wouldn’t you say? ________ UPDATE (Aug 21, 11:45 p.m.): A strong rally wouldn’t undo the damage done by Friday’s decisive downside penetration of the 21750 target flagged above. The Indoos fared even worse on Monday, with a 21600 low on the opening bar (click here for a chart)  that exceeded my bearish threshold by 150 points. The short squeeze that followed doesn’t look like it will get very far, since DaBoyz have failed for two consecutive days to extract much leverage from brazen shakedowns on the respective opening bars.  This is the clearest bear-market action we’ve seen in the Indoos in many years. Generally speaking, corrective abcd patterns are not supposed to achieve, let alone exceed, their d targets in bull markets, but it has finally happened here. As a result. we should start taking technical signs of weakness more seriously than before. _______ UPDATE (Aug 23, 6:16 p.m.): I don’t want to read too much into this, but the Indoos have turned lower after failing to achieve an ‘easy’ Hidden Pivot midpoint at 21942. It’s nothing that a thrust past it on Thursday or Friday wouldn’t cure, but regardless, this is not healthy, robust price action.______ UPDATE (Aug 26): Bulls flunked the sniff test last week, failing to reach, let alone surpass, the 21942 pivot I’d benchmarked above. They don’t deserve another chance, but we are not the ones who will decide this.________ UPDATE (Aug 28, 7:22 p.m.):  Index futures are getting whacked tonight on word that Kim Jong Unsane had lobbed a missile over Japan. Use 21427.74 as a downside target for now. It is clear, compelling and should precisely contain the selling. If not, look out below.