The chart above is the Dow Jones Industrial (50x3) high low chart, which plots prices based on the (intraday) high/low level rather than the closing price. I'm finding these quite useful in these momentum driven markets. The column of X's which gave rise to that 12,500 price target coincided with the announcement of QE2 and while its was possible to trade the noise, what this column is saying is that the Dow rose (50 points x 17) 850 points before reversing - a rampant bullish move! Then there was another one over Dec/Jan of (50x21) 1,050 and on most recently on the bounce back post Japan of (17x50) 850.
It can be seen that these two most recent up colums have given price targets in the 14,000s; the 14,100 target was activated when the market moved back above the top of the column of 21 x's (12,050): the more recent target is INACTIVE but will be activated if the Dow fills that 12,500 box. You can see the Index is testing that previous high level.