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miércoles, 30 de noviembre de 2016

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

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