DJ ramped higher

Carol Harmer Charmer Trading

SUPPORT: 19450/44 19370 19314 19285 19166 19126 19019

RESISTANCE: 19560 19655 19762 19973

DJ ramped higher and today we need to stay above the pivot point of 19444....If we can do that can maintain strength.....we are overbought...and we have been for a while...even the short term charts look overbought...so we do need to take care...we may well see a pullback to this 19444 area quite quickly after the open...Reversal Thursday is still here...and you cannot say we have not had a move to reverse....we have...so you know...you cant take the strength of the Dow away from it......but maybe at this point in its life it needs a correction....we shall obviously see if this is the case today....A break through 19444 would see us falter and come back towards 19166 which is its first 23.6 med term Fib level....This should hold any attempt at it...so we would cover any shorts and go long on this weakness and keep the stops then below the R2 located at 19126.

Author

Carol Harmer

Charmer Trading

Carol Harmer has over 39 years experience of analysing and trading the world's markets and is undoubtedly one of the most respected technical trader in the world today.

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