DJ Support: 18,132
18,053 2014 closing high
17,916
17,759 Strong
17,350 September high
17,278 Strong September closing high
16,990 Very strong
16,588 2013 peak
16,320
15,854 Very strong
Technical Analysis:
It seems a consolidation time is necessary according to the technical analysis. Technically short and long term show bias for new historical highs in the tree indexes.
Short term range is DJ18,053 - 18,288.63.
The support of the new range DJ18,053 has been confirmed and it should attract buyers at this level,
DJIA and S&P got new all-time highs and today retraced.
Next targets for NASDAQ COMPOSITE are 5049 and 5,132.52 its historical high in 2,000.
Please click over the chart to enlarge it.
Fundamentals:
The February unemployment and non-farm payroll coming this Friday could be the catalyzer for the short term movement.
The economist and financial specialists are comenting about negative interest rates. Switzerland, Denmark and Sweden central banks have decreased their interest rates to the negative. That means that the money that sleeps in the bank has to pay instead of receiving interest. The new Swedish bonds have a negative rate. They are a tool to stimulate the economy. The investors do not have a big choice of profitable investments, then the stock market is an excellent alternative because with low interest rates the corporation can win money. The central banks can work through the consumption to put the economy in shape.
Dear traders and investors, it seems to me that the market needs a consolidation period to stabilize its recently record high prices. The big consolidation range is DJ16,990 - 18,288.63 and the short term consolidation range is DJ18,053 to 18,288.63. I expect this consolidation during March however the trend is clearly to the upside.
Good luck, viel Glueck, buona fortuna, buena suerte, bonne chance!
Ulises
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