18,206 Breakout
18,104 2014 peak
17,810 Important
17,585 200 days moving average
17,579 Breakdown
17,265 2 months high
DJ Support: 17,125 Light
16,933.43 September high
16,679 50 days moving average
16,667 Breakout
16,460 Light
15,980 Strong
15,651.24 Important
15,370.33 Very strong
Technical Analysis:
Major resistance DJ17,579, before support, is the next bulls' target. If market breaks up this level and stays over it, we can consider that the damages of the charts are repaired. 200 days moving average is also a major resistance for DJIA.
For S&P the major resistance is SP2,040 and 200 days moving average.
If DJIA stays in the surrounding area of DJ17,579, the odds of a breakup increases. Pay attention to that.
Please, click over the chart to enlarge it.
Fundamentals:
Corporate earnings and economic news are coming with disappointments. But consumption, especially consumer discretionary sector, is expected to improve this and next year. For example, there are rumors that Amazon is looking to get 100,000 temporary jobs for the holidays. National Federation's Consumer Spending Survey is expecting a better consumption this year. The average spending per American during holidays is expected U.S.$805.65, U.S.$3.20 more than last year.
Dear traders and investors, we will have the earnings of very important corporations this week, until now the corporate results have been mixed. Positive earnings came from Adobe Systems Inc., United Health Group Inc., Netflix Inc., Lennar Corp., negative came from IBM, but the market is feeling and expecting a constant consumption for the last trimester of 2015 and complete 2016, that would be the key for a solid stock market. I prefer to avoid long conversations this week and watch the corporate earnings during October.
Good luck, viel Glueck, buona fortuna, buena suerte, bonne chance!
Ulises
great news shearing by you keep it up......
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