I quickly ran in to the problem when trying to set up DTM that page load rules did not work when I have the s_code present on the page (and "s_code present" selected in DTM). I've been in touch with Adobes support for weeks now and they have not been able to figure it out (event rules work fine). I set up a test page with essentially just the s_code and DTM and nothing else
If you check with a tool like Omnibug and DTM debugger you'll see that a pageload rule is fired ("page load test") through DTM but it is not sent with the actual image request. You can also view the debug info linked on the page itself: http://i.imgur.com/AlBvJK4.png
Can anyone help figure out why this is happening? The pageload rule is currently set to fire at top of page, but I get the same results regardless of what I set this to (top, bottom, dom, onload - page load rule fires but is not included in image request).
Can you please check if your condition is returning false which would cause analytics not fire for that page load rule. Possible that you might have already checked it but just thought of passing on info