DJ Resistance: 18,289 All-time high
18,054 2014 closing peak
DJ Support: 17,900 50 Days moving average
17,800 Triangle side
17,579 Strong March low
17,390 Strong 200 Days moving average
16,990 Very strong
15,854 Very strong
Technical Analysis:
Market is working in its short term range DJ17,579-18,289 which is positive and constructive.
Right now the triangle formation is important for the short term, pay attention to it.
The consolidation range DJ16,990-18,289 is solid and positive for the bull case. If DJ16,990 is broken down, we have to put all the alert flags.
Please, watch the chart, it is a very clear chart to navigate DJIA.
The bull case is in place, you have to have that in your mind according to the technical analysis.
Please click over the chart to enlarge it.
Fundamentals:
We are getting positive economic reports like retail sales on Tuesday and for this Wednesday we are going to get Industrial Production and Empire State Mfg survey.
I still think that we are receiving economic reports that sustain a delay on the interest rates raise by FED,
Dear traders and investors, my comment is short this week because the market needs a catalyser to break out the resistances and get new highs. The catalyzers are the corporate earnings this April, what we have seeing are positive but they have to continue in this paths if we are going to see new all-time high this month.
I have tried to put all in the chart to facilitate your trading and your portfolio management. The market is in a good moment but nothing is written.
Good luck, viel Glueck, buona fortuna, buena suerte, bonne chance!
Ulises
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