DJ Support: 23,470 20 Days moving average
23.002 Strong, Gap
22,980 50 Days moving average
22,420 Strong, breakout
21,682 July peak
21,640 200 Days moving average
21,535 June peak
21,125 January peak
19,672 January low
The trend is bullish, the three indexes show us new record highs. The near term supports, DJ23,250 and SP2,564, were successfully tested and the indexes rebounded from there to new all-time highs that is very bullish and puts the groundwork for potential follow-through.
The 20 days moving average are also working as supports.
We can conclude that the three indexes are behaving technically constructive and they are in bullish-leaning mood.
The retest of the short term supports has defined the range and given projections to visit new historical highs.
Please click over the chart to enlarge it.
Existing Home sales came at 5.480 million units in the annualized figures, last month it was 5.370 million units. Retail sales did well too.
Dear traders and investors, we have to be thankful this year and these Thanksgiving days we have to share with our families and friends. I wish you all the best and we will continue working together trying to understand these passionate markets.
Good luck, viel Glueck, buona fortuna, buena suerte, bonne chance!