26,616.71 Old-time high (January peak)
26,289 20 Days moving average
25,979 50 Days moving average
25,835.35 February high
DJ Support: 25,835.35 February peak
25,119 200 Days moving average
24,900 October low
23,250 Very strong
23,173 Strong, upside gap
23,002 Strong, downside gap
DJIA after have done a new historical high retraced aggressively to just the important support at 200 days moving average and then bounced up. This support is a bull-bear gauge and the bulls are winning.
October low is the three moths low and is the support now.
Next important resistance is DJ25,879 (50 days moving average).
The short-term trend is bearish but midterm is bullish. We have to pay attention to the chart damage, if the DJIA exceeds the 50 days moving average the trend will be bullish again.
Please click over the chart to enlarge it.
Earnings season is back and brought buyers generating a rebound after last week retracement. The start of earnings season was very strong.
Uncertainty is still in play due the difference between Saudi Arabia and U.S.A. caused by the killing of the journalist Jamal Khashoggi. In addition, the trade war with China brings uncertainty. In the European Union the Brexit weights with the Italian budget and the Italian bonds prices.
The economic news is still positive and promise good results for the corporation and stronger consumption. Industrial Production rose up 0.3%. The lasts economic reports are bullish.
Last week pullback is healthy for the market and it reacted technically and positive with the new earning season. The continuing strength of the economy and the Trump tax reduction are going to impact on the corporation profits like the future stronger consumption.
Dear traders and investors, I don't take too much of your time, my expectations are a strong economy, excellent business for the corporations, better standard of live for individuals therefore the stock market will look for new historical highs.
Good luck, viel Glueck, buona fortuna, buena suerte, bonne chance!