Markets - DJIA 12,849 up+228 p&f chart.
With the jump of 228 pts.on Friday and I had forecast a rise up to 12,800 had better report on the Dow's next move. Last report dated Apr.16th then at 12,619 and I wrote:- "......Chart pattern up side target is now higher at 12,800, that's it". And so it came to pass. Intraday high hit 12,965 coming off an intraday low on Mon.14th of 12,208 , a rise of +757, or 6.2% . Such a rise in just 5 days is too much, so back off is due. Taking a looky-C at the p&f chart here, you must admit, it is following a pattern by design, where the lows are hugging the rising 45 line and on top of that, the last rise which is the 5th, is also hugging the 5 highs that also following the same pattern. By my observation now, the DJIA is S.T.overbought and will now back off. Support is now at 12,400 , the next target. Have not given you the Bulls and Bears since Mar.19th so.......

Advisors Sentiment. www.investorsintelligence.com 914-632-0422 NY, NY.
Mar.26th: Bulls up to 36.7%, Bears dn 41.1%, Correction 22.2%. Bulls dn.sharply from Feb. 41.9% - 3rd wk.more Bears than Bulls.
Apr.2nd: Bulls dn 36.4%, Bears dn 36.7%, Correction up 26.1%. Bears lowest level since 44.7% , two wks.ago.
Apr.9th: Bulls up 37.4%, Bears up 38.5%, Correction 24.1%. Fifth week in a row with more Bears than Bulls.
Apr.16th: Bulls up 37.8%, Bears up 38.9%, Correction 23.3%. As you can see, the Bulls have been rising, Bears falling.
Finally, take alook at the p&f chart here and note the rising pattern, when and if it breaks down, it will be swift, so watch out.

Charlton Capital Ltd. Mr.618 and # 1 in timing.