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Thursday, March 11, 2010

DJT - Top in place ?



Just a quick follow-up on yesterdays post on the DJT.

We got the extra squiggles and a new high at 4,331.26 and a break above the 2-4 channel, we might just need one more new high, but it's not a must. The key is a break below support at 4,231.35, if that support breaks it would indicate, that a top is in place and that would most likely be followed by a break below 80 in the Stochastics, which would also indicate that a top is in place.

We still have non-confirmation of the new high in the DJT from the DJI and the S&P 500. If they don't confirm the new high and supports begin to break it will be very bearish.

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