19,953.75 New all-time high
19,911 Last closing
DJ Support: 19,550 Hourly chart
19,200 Strong
19,060 Hourly chart
18,800
18,668 Old all-time high
18,247 August low
18,000 Strong
17,888.23 November low
17,579 Inflection point
17,125 Very strong
16,520
15,980 Strong
15,450 Very strong
Technical Analysis:
DJIA has taken 7 straight days doing new all-time high. The three indexes are in uncharted territory. DJIA is the strongest attacking the 20,000.
It is hard to define the DJ supports in these new territories. DJ19,200 should be the important support. The way to the upside was done almost without resistance from November 4th. The bounce up is similar to the Brexit breakout.
The three indexes show a firmly bullish trend for the long term.
Please click over the chart to enlarge it.
Fundamentals:
Well, this Wednesday is the day to increase the interest rates by the FED. The market is waiting for that from almost two years. It is so odd that the stock market is doing all-time new highs with expectations about raise of interest rates, that is explaned by the investors always look to the future.
We have witnessed a rotation in the stock market during the last three weeks, investors were looking for growth, positioning and avoiding conservative and dividing paying stocks.
Christmas Rally? It seems that we are in a constant rally after more than two years playing in the range.
Dear traders and investors, besides economy the market expects a positive 2017 for the stock market, my opinion is to stay long with growth stocks.
Nothing more to say by the time.
Good luck, viel Glueck, buona fortuna, buena suerte, bonne chance!
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