Clear Bull Trend

DJ Resistance:  19,152      All-time high
                         
DJ Support:      19,090      Light
                           18,923      Old time closing high
                           18,668      Old all-time high
                           18,470
                           18,247      August low
                           17,995 - 18,016 Strong
                           17,990      200 days moving average
                           17,888.23 November low
                           17,579      Inflection point
                           17,433
                           17,125      Very strong
                           16,667      Inflection point
                           16,520    
                           15,980      Very strong
                           15,450      Strong
                           15,370.33 Strong very strong

Technical Analysis:
The three indexes did new all-time highs, they broke their respective resistances. November began with a sell off and reversed with the Brexit style. The reverse brought us with a strong rally to new highs just after the elections. The bull flag broke trigered the DJIA to new all-time highs.
DJIA is the strongest index in these moments. DJIA, S&P and NASDAQ Composite are in uncharted territory. DJIA has strong supports at DJ18,923 and 18,668.
The market needs to consolidate these new highs and DJ19,300 to 19,350 could be the target if Christmas rally.
The mid-term trend is bullish.

Please click over the charts to enlarge them.
                         
                     

Fundamentals:
After the elections we got our announced rally, I am very happy because this time we have reed very well the market.
 Economics are doing well, yesterday good news are:
Consumer Confidence to 107.1 from 98.6, the best from the previous 2008 crisis, Redbook Weekly Retail Sales Report the best of the year, and GDP revised to 3.2% from 2.9%.
Retail Sales positive.
Hopefully we are going to receive the New Year with a Christmas rally.
We are going to have important news like the pending rise of interest rates between others. My opinion is that the market needs to consolidate its advances before to continue its uptrend.
Dear traders and investors, economy is improving which means better profits and higher stock prices. Stay with positions in the stock market.

Good luck, viel Glueck, buona fortuna, buena suerte, bonne chance!
Ulises

DJIA New Old-time High

DJ Reistance:  18,934      All-time high

 DJ Support:    18,668     Old all-time high
                          18,636     August highs
                          18,470
                          18,247     August low
                          17,995 - 18,016 Strong
                          17,888.23     November low
                          17,861     200 Days moving average
                          17,579     Inflexion point
                          17,433
                          17,125      Very strong
                          16,933.43 Strong September 2015 high
                          16,667      Inflexion point
                          16,520
                          15,980      Very strong
                          15,450      Strong
                          15,370.33 2015 low

Technical Analysis:
Just during the counting of votes on November 8th. night the market got a sell off. The DJIA went under DJ17,900 and bulls came back producing a bounce upward. A new "V Bounce" is formed like with Brexit reversal. DJIA has done a bounce of 1,050 points from November low and the index entered in uncharted territory again.
Supports are well defined at DJ18,470 and 18,247. The area DJ17,995 - 18,016 is a very strong support.
S&P has not done new all-time high. It is at 8 points of the higher closing SP2,190 and 12 points to the all-time high SP2,194.
The short and long term trend are firmly leaning-bullish.

Please click over the chart to enlarge it.

  

Fundamentals:
It was clear to me the coming rally once the uncertainty of who would be the new President of U.S.A.
This rally is done on positive perspective in the U.S.A economy and growth.
The market is still in earnings season and in the next 15 days we are going to receive a lot of economic news like producer price index, industrial production, capacity utilization, consumer price index, housing starts, leading indicators, etc. The economy is doing well and the market is optimistic about it.
If the FED is going to hike the interest rates we should short the bonds in the market. The possibilities for that increase are high but we have to evaluate if it will be done in December or with the new administration next year.
After positive news like Retail Sales on Tuesday which were better than expected, the fourth quarter of GDP is estimated now in +3.3%.
Dear traders and investors, rally is in the market, DJIA did new aa-time high. I think that S&P will do it this or next week.

Good luck, viel Glueck, buona fortuna, buena suerte, bonne chance!
Ulises

Strong Rebound

DJ Resistance:  18,668      All-time high
                           18,470
                           18,447      September gap unfilled
                           18,351      Old all-time high
                         
DJ Support:     18,247      August low
                          18,211      50 Days moving average
                          17,995 - 18,016 Strong
                          17,888.28 November low
                          17,800      200 Days moving average
                          17,579      Inflexion point
                          17,433
                          17,125      Very strong
                          16,933.43 Strong September 2015 high
                          16,667      Inflexion point
                          16,520
                          15,980      Very strong
                          15,451      Strong
                          15,370.33 2015 low

Technical Analysis:
As I explained in the last week blog the possibilities to breake down the support at DJ17,995-18,016 were more probably than a bounce up. The market went down last week doing November low at DJ17,888.28 but what a bounce up on Monday and Tuesday.
The bounce up put DJIA in an uptrend and should be very well supported after technical analysis. It is over DL18,211 (50 days moving average) and DJ18,247 (August low). This engulfing move to the upside in the last 2 days is very bullish but the future of this hectic move depends on the U.S.A. elections
Technically the trend is bullish-leaning, but I would see the afterward of the elections.

Please click over the chart to enlarge it.

Fundamentals: 
Well, elections ended and now all will going to work.
The market took Hillary Clinton as positive for the stock and Donald Trump as negative. In my opinion the U.S.A. economy is doing well and the economy drives the financial markets.
Volatile is going to be present every moment but the calm will be back. I still expect a rally before the end of the year. We have to see how the world, the markets will assimilate the Donald Trump's triumph and naturally his actions as President of U.S.A. Actually I am optimistic with the U.S.A. economy and with the new administration. U.S.A. is a strong democracy with balanced powers where one does not do what he wants.
Dear traders and investors, not too much to say. Markets reacted negatively but the waters will return to their course. Expect volatility. For example I think the probabilities for higher prices of pharmaceutical corporations like Pfizer are very possible. Stay cool and calm and do not forget the rally is in the way

Good luck, viel Glueck, buona fortuna, buena suerte, bonne chance!
Ulises

Dow Jones and S&P on Major Support

DJ Resistance:  18,668      All-time high
                           18,470
                           18,447      September gap unfilled
                           18,351      Old all-time high
                           18,261      50 days moving average
                           18,247      August low
                           18,160

DJ Support:      17,995 - 18,016 Strong
                           17,960      October low
                           17,758      200 days moving average    
                           17,579      August 2015 inflexion point
                           17,433
                           17,125      Very strong
                           16,933.43 Strong September 2015 high
                           16,667      Inflexion point
                           16,520    
                           15,980      Very strong
                           15,450      Strong
                           15,370.33 2015 low

Technical Analysis:
DJIA and S&P stay in the range-bound but this time they are approaching the lower band for the third time which is dangerous according technical analysis because the probabilities to break it down are higher than a rebound.
The supports are the area DJ17,995 - 18,016 and DJ17,960 (October low). For S&P the supports are SP2,114 - 2,117 and SP2,080.
The trend still is bullish-leaning barring the support at DJ17,960 breaks down.

Please click over the charts to enlarge them.

Fundamentals:
Finally elections will take place next week. With a cleared new president I think the market should try the upperside, why? Because in October we had: ISM Manufacturing up to 51.5 from 49.4, ISM Services up to 57.1 from 51.4, GDP raised to 2.9% in above expectations and doubles the pace  from Q2,  and earnings season was positive, the best in 2 years.

Dear traders and investors, we are going to have the elections in one week and the uncertainty will be aside. Market can sell off during this week but remenber the economic news that I listed at the beginning of the blog. You can participate in the sell off if you think that you can buy at better prices. My opinion is that the market will try the upside before the year's end. Will see!

Good luck, viel Glueck, buona fortuna, buena suerte, bonne chance!
Ulises