Dow Jones approaches to 25,000

DJ Resistance:  24,876.07  All-time high

DJ Support:      24,715.60
                           24,500
                           24,200       20 Days moving average
                           24,100
                           23,950
                           23,622       50 Days moving average
                           23,600
                           23,500       Gap upperside
                           23,480       Gap downside
                           23,250       Strong
                           23,174       Gap
                           23,002       Strong, gap
                           22,890
                           22,795
                           22,420       Strong, breakout
                           22,119
                           22,000
                           21,974       200 Days moving average
                           21,912
                           21,600
                           21,535       July peak
                           21,115
                           20,800
                           20,590
                           20,400       Strong
                           21,125       January peak
                           20,732
                           20,672       January low

Technical Analysis:
DJIA is targeting DJ25,000, S&P to SP2,700 and Nasdaq Composite to 7,000. The three indexes are in uncharted territory which makes difficult to project the upside move. They have reached new all-time highs.
DJIA first support is the breakout point DJ24,500. The equivalent in the S&P is the support at the breakout point at SP2,665.
The three indexes are over its 20, 50 and 200 days moving average which are strong supports and it means very bullish.
The trend is bullish and there is a rotation to the wealth sectors of the market.

Please click over the chart to enlarge it.

 Fundamentals:
The economy is actually doing well and therefore the corporations. The consumption in the U.S.A. is solid.
Construction and Business Equipment in good shape according to Industrial Production figures which were +0.2%.
Up to 2.1% the Atlanta FED Business Inflation Expectations which is positive.
The Empire State Manufacturing at 18.0
Housing Market index jumped to 74 from 70.
Redbook reported, retail sales, growth rate at 4.4%, year to year, versus the previous month gains at 3.3% also year to year.
Last Housing Starts were at 1.297.000 units (annualized) better than the previous 1.256.000.
Today the market should get the confirmation by the Congress, both House of Representatives and Senate, of the Trump Tax cut bill, it would be very positive.
This Friday is the final delay to avoid the Government shutdown, I expect both parties will get an agreement.

Dear Traders and investors, let me say that 2017 was avery  positive year, DJIA increased in 5,000 points and there is room for a small Christmas Rally.

I would wish you an excellent time with your families and all the happiness that we deserve as traders, investors and colleagues, our life, fight and profession is very hard.

Merry Christmas!
Happy Hollidays!


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

Bullish continues the trend

DJ Resistance:  24,552.97  All-time high
                           24,534.04  Old all-time high

DJ Support:      24,335
                           24,320       20 Days moving average
                           24,100
                           23,950
                           23,600     
                           23,500       Gap
                           23,480       Gap
                           23,470       50 Days moving average
                           23,250       Strong
                           23,174       Gap
                           23,002       Strong, gap
                           22,890
                           22,795
                           22,420       Strong, breakout
                           22,119
                           22,000
                           21,912
                           21,890       200 Days moving average
                           21,600       Strong
                           21,535       July peak
                           21,200
                           21,115
                           20,800
                           20,590
                           20,400       Strong
                           21,125       January peak
                           20,732
                           20,672       January low

Technical Analysis:
The three indexes or the major benchmarks maintain a bull trend and in the last days their daily closes are showing record after record.
The November breakouts were impressed because they were done two months after a breakout and a solid consolidation. With the November breakout the panorama became similar in December.
Near term support is DJ24,100 and strong at DJ23,950.
DJIA and S&P are closing over the 20,050 and 200 days moving averages which is technically powerful for the bulls.
The three indexes are running in uncharted territories that could give extremely volatility. We recognize that the market is very supported and the bull trend is clearly barring support at DJ23,002.
The consecutive record closes that we are witnessing in the last days are technically very constructive for the bulls.
The Nasdaq Composite is lagging behind.



Please click over the chart to enlarge it.

Fundamentals: 
Non-farm payroll last Friday showed the creation of 228,000 new jobs, market was expecting 190,000. The details in this great number is very important to understand the State of the economy. Private payrolls were up 221,000 and public payroll were up 7,000. In this context Professional & Business Services managed 46,000 new jobs, Construction gained 23,000, Manufacturing advanced 31,000 and Health Care boosted 30,000. The unemployment rate lingered at 4.1% which is 17-year low. It was an excellent employment report that triggered a market rally at the end of the week.
Yanet Yellen will drive the FED today in her end as President, it will be very important her speech about interest rates after her last FOMC meeting. I expect an increase of .25% due the solid economy, corpations activity and demand.
The terror attack in New York was controlled inmediately. New york is a resilient city and the markets reacted with calm.

Dear traders and inventories, there are three weeks more of trading before of the year's end and based in the economy, corporations and the demand of consumers I still expect even more gains, possibly a Christmas rally.

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

Trend is firm bullish

DJ Resistance:  24,534.04  All-time high
                         
DJ Support:      23,950
                           23,690       20 Days moving average
                           23,600
                           23,500       Gap
                           23,480       Gap
                           23,285       50 Days moving average
                           23,250       Strong
                           23,174       Gap
                           23,002       Strong, gap
                           22,890
                           22,795
                           22,420       Strong, breakout
                           22,119
                           22,000
                           21,912
                           21,774       200 Days moving average
                           21,600       Strong
                           21,535       July peak
                           21,200
                           21,115
                           20,800
                           20,590
                           20,400       Strong
                           20,125       January peak
                           19,732
                           19,672       January low

Technical Analysis:
In the short term it is necessary a consolidation phase because is overbought. In the long run the trend is firmly bullish.
DJIA last target at DJ23,950 has been achieved and has done a new record high at DJ24,534.04.
Supports for the short term are not easy to identify because the index is in uncharted territory, DJ23,600 should act as a strong support.
DJIA and S&P are over its 20 days moving average which is positive and bullish.
S&P support is in the area of SP2,600.

Please click over the charts to enlarge them>

Fundamentals:
The market pulled down in the last three days but it got a new record high on Monday. It is healthy to consolidate and rest.
The recent economic news were a little disappointed but not negative for the economy:
PMI Services Index at 54.5 from last month 55.3
ISM Non-Manufacturing Index at 57.4 from last month 60.1
Redbook 3% year to year rate of change, last month it was 4.8%.
This Friday we will get the unemployment rate and non-farm payroll and the spending bill to avoid the shutdown of the government. These will put traders cautious and in the geopolitics the chatters of President Trump will recognize Jerusalem as the Israel capital and the move of the U.S.Embassy to the city.

Dear traders and investors, I find healthy the market pull back and a possible consolidation phase, we are in uncharted territory. The economy and the corporations with a solid consumption are doing well. I still expect a Christmas rally for the end of the year.

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

Wow DJIA New Record High

DJ Resistance:  23,849.61  All-time high

DJ Support:      23,769.43
                           23,665.86
                           23,500      Gap
                           23,480
                           23,250      Strong
                           23,174      Gap
                           23,070      50 Days moving average
                           23,002      Strong, Gap
                           22,890
                           22,795
                           22,420      Strong, breakout
                           22,119
                           22,000
                           21,912
                           21,756      200 Days moving average
                           21,682      July peak
                           21,600      Strong
                           21,535      June peak
                           21,200
                           21,115
                           20,800
                           20,590
                           20,400      Strong
                           21,125      January peak
                           19,732
                           17,672      January low

Technical Analysis:
What a new record high!
DJ23,500 and 23,250 are well based support for DJIA, and SP2,564 and SP2,600 for S&P.
The three indexes are pointing and set up for a 2017 strong close. They are in unknown territory. DJIA new target is DJ24,000, technically DJ23,950 in the midterm.
The price action in the three indexes are bullish and showing a strong uptrend.

Please click over the chart to enlarge it.

Fundamentals:
The tax cut bill is now in the Senate that moved the markets to the upside because it is considering positive. If the Senate passes or not the bill would be known in same days maybe next week.
Economic news continue stimulating the financial markets like New Homes Sales at 685,000 annualized units versus last month 667,000.
This week will be plenty of economic reports that would affect the Market. The most important is the Senate vote about the tax cut bill. We wait for GDP, Pending Homes Sales, Beige Book, Personal Income, Consumer Spending, Core Inflation, Chicago PMI, ISM Manufacturing, Construction spending, Markit Manufacturing PMI, etc.
Consumer Confidence at 129.5 for a seventeen year high.

The economy is doing well and the markets realize that. 

Dear traders and investors, it seems to me that we are going to end the year with new highs in the three indexes. If the market gets a Christmas Rally supported by the solid and strong consomption.

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

New Record Highs: DJIA, S&P and NASDAQ

DJ Resistance:  23,617.80  All-time high

                           23,600

DJ Support:      23,470       20 Days moving average       

                           23,250       Strong

                           23,174       Gap

                           23.002       Strong, Gap

                           22,980       50 Days moving average

                           22,890

                           22,795

                           22,420       Strong, breakout

                           22,119

                           22,000

                           21,912

                           21,682       July peak

                           21,640       200 Days moving average

                           21,600       Strong

                           21,535       June peak

                           21,200

                           21,115

                           20,800

                           20,590

                           20,400       Strong

                           21,125       January peak

                           19,732

                           19,672      January low

Technical Analysis:

The trend is bullish, the three indexes show us new record highs. The near term supports, DJ23,250 and SP2,564, were successfully tested and the indexes rebounded from there to new all-time highs that is very bullish and puts the groundwork for potential follow-through.

The 20 days moving average are also working as supports.

We can conclude that the three indexes are behaving technically constructive and they are in bullish-leaning mood.

The retest of the short term supports has defined the range and given projections to visit new historical highs. 

                          

Please click over the chart to enlarge it.

 Fundamentals:

Existing Home sales came at 5.480 million units in the annualized figures, last month it was 5.370 million units. Retail sales did well too.

Dear traders and investors, we have to be thankful this year and these Thanksgiving days we have to share with our families and friends. I wish you all the best and we will continue working together trying to understand these passionate markets.

Happy Thanksgiving!

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

Ulises                         

Consolidation or Downdraft of Bull-Trend?

DJ Resistance:  23,602.12  All-time high
                           23,483
                           23,340

DJ Support:      23,250       October low
                           23,174       Gap
                           23,002       Strong, Gap
                           22,890
                           22,810       50 Days moving average
                           22,795
                           22,420       Strong, breakout
                           22,119
                           22,000
                           21,912
                           21,682       July peak
                           21,600       Strong
                           21,560       200 Days moving average
                           21,535       June peak
                           21,200
                           21,115
                           20,800
                           20,590
                           20,400       Strong
                           20,125       January peak
                           19,732
                           19,672       January low

Technical Analysis:
DJIA showed a downdraft and it is approximating important support at DJ23,250, October low. Is this retracement a consolidation? It should be. The market is in a bull-trend barring a violation of strong supports. DJ23,250 defines the first range support. DJ23,340 has resisted and proved as support in the short term. 20 Days moving average has failed as support, DJIA was over this indicator every trading day from September 8th.
In summary, the market has done a small retracement and supports are working. The trend is bullish.

Please click over the chart to enlarge it.

                         
 Fundamentals:
Most indexes are in the green. Yesterday the close was in red due of some fears about the tax cut that will be discussed in the House and later in the Senate. Obamacare could be repeal that is not a good new.
The President Trump returned to the U.S.A. after his Asia trip with good news like the 300 billion in trade bills.
Earnings and economic news are driven the market through a good path.
Last month Producer Price Index +2.8% y/y versus +2.6% prior figure. Less food and energy is +2.4% on a year basis. Redbook Retail Sales +2.3% year to year pace against last month +2.6%, still positive number with the sales expectation during Christmas sales.
Today we are going to receive the figures of the MBA Mortgage Applications, The Atlanta FED Business Inflation Expectations, Business Inventories, Retail Sales, The Empire States Manufacturing Survey and Consumer Price Index. We will have a busy day with all these news.

Dear traders and investors, possibly we are in a consolidation phase that will give support the DJIA and S&P indexes gains before to continue to the upside. That means buy the dips and invest accordingly.

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

                         
                         

November Start Bullish: succesive light record closes

DJ Resistance:  23,602.12  All-time high

DJ Support:      23,483
                           23,300       20 Days moving average
                           23,250     
                           23,174       Gap
                           23,002       Strong, Gap
                           22,890     
                           22,785
                           22,610       50 Days moving average
                           22,420       Strong, breakout
                           22,119       Breakout
                           22,000
                           21,912
                           21,682       July peak
                           21,600       Strong
                           21,535       June peak
                           21,488       200 Days moving average
                           21,200
                           21,115
                           20,800
                           20,590
                           20,400       Strong
                           20,125       January peak
                           19,732
                           19,672       January low

Technical Analysis: 
Positive November start with consecutive new all-time highs during four days. The increases were small bur every day that puts a bullish-leaning trend in the intermediate term barring a violation of the supports.
DJIA supports are at DJ23,483, DJ23,300 (20 days moving average) and DJ23,250. The gaps at DJ23,174 and DJ23,002 are going to act as strong supports for DJIA.
The consolidation range is DJ23,002 - 23,602.12.
The broke of the bull flag just below of DJ23,500 triggered these new all-time highs during last four days. We are almost at the end of the year witnessing a bull trend. The late price action is solid and constructive for the bulls. We are seeing a rotation from transport and healthcare to technology and transport sectors which is healthy and signals the grounded bull trend.
The different moving average will act as solid supports.

Pleaase click over the chart to enlarge it.

Fundamentals: 
Last Friday we have received a bullish Employment figures, 4.1% Unemployment rate and Non-farm payroll increased to 261,000 in October (9,000 from public sector and 252,000 from private sector) ,  which accompany the positive economic news and the corporate earnings.
DJIA, S&P, NASDAQ COMPOSITE have eight straight weekly gains. All these are in a row.
This week there is not controversial news from the economic field. We have to pay attention to Jobless Claims and Whole Sale Trade numbers on Thursday and this coming Friday Consumer Sentiment report.

The market expects the tax cut done this year

This positive situation puts the market encouraged. The conjunction of all of these factors could drive in a new way of growth and wealth for many years.

Dear traders and investors, this bull market is pristine and looks strong enough to continue. We can expect a marvelous end of the year. I am optimistic with the stock market and in any pull back I think we should buy. 

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

Clearly Bull Trend

DJ Resistance:  23,485.25  All-time high
                         
DJ Support:      23,368
                           23,250
                           23,174       Gap
                           23,092       20 Days moving average
                           23,002       Strong, Gap
                           22,890
                           22,785
                           22,500       50 Days moving average
                           22,420       Strong
                           22,119       Breakout
                           22,000
                           21,912
                           21,682       July peak
                           21,600       Strong
                           21,535       June peak
                           21,412       200 Days moving average
                           21,200
                           21,115       Strong
                           20,800
                           20,590
                           20,400       Strong
                           20,125       January peak
                           19,732
                           19,678       January low

Technical Analysis:
The Three indexes have gotten all-time highs during October and we are at he open of the best six months season for the stock market, November to April.
The market is entering to this season with a strong bull trend.
DJIA is doing well with technical and has good supports between DJ23,002 to 23,250 including two gaps support.
The 20 Days moving average is acting as a good support, pay attention to it.
The consolidation phase is still in place and it would be healthy to continue until Thanksgiving with a possible rally. The short, mid and long term trend is clearly bullish.

Please click over the charts to enlarge them.

Fundamentals:
The economy continues bringing positive news and reports:
Consumer spending rose +1%, core inflation +0.1%, inflation +1.3%, wages rose 0.4%, Dallas Fed Manufacturing Survey to 27.6 from 21.3. This coming Friday Unemployment Report and Non-Farm Payroll will be disclosed and those figures move the markets. 3Q GDP grew to 3%, estimates were +2.5%., and Consumer Sentiment was at 100.7 which is positive taking note that 70% in the GDP is due to the spending by the consumers.
The market continues underpinned with Redbook retail sales up to 3.6% from 3.5% last month, Consumer Confidence increased to 125.9 from 119.8 last month and in its highest level, Chicago PMI is at 66.2 from 65.2
In resume, October was an excellent month for the stock market and the economy.
The details of the tax cut plan will be released today. There are a lot of rumors of what is in and on what is out, these rumors will end.
Dear traders and investors, the market is in a strong bull trend at least until the year's end underpinned by the optimism of the earnings season, accelerating economy and tax cut plan. I still think about a consolidation before Thanksgiving but the market seems to be resolute and doesn't want to lose time.

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

The Trend is Bull

DJ Resistance:  23,485.25  All-time high

DJ Support:      23,368
                           23,174       Gap
                           23,086
                           23,002       Strong & gap
                           22,890
                           22,810       20 Days moving average
                           22,785
                           22,420       Strong breakout
                           22,405       50 Days moving average
                           22,119       Breakout
                           22,000
                           21,912
                           21,682       July peak
                           21,600       Strong
                           21,535       June peak
                           21,305       200 Days moving average
                           21,200
                           21,115       Strong
                           20,800
                           20,590
                           20,400       Strong
                           20,125       January peak
                           19,732
                           19,678       January low

Technical Analysis:
What a month!
Actually the October breakout at the beginning of the month is unstoppable. We have to realize that the period between November and April is the best for the stock market.
20 days moving average is accompanying as first support the October great acceleration after the breakout.
DJIA has gaps to be filled especially at DJ23,002 where should be a strong support. This action will bring solidity to the up move on DJIA. The consolidation range is DJ23,000 to 23,485.25 with a very strong support at the breakout DJ22,420.
The last up move of the three indexes is over extended in the near term and needs to consolidate filling the gaps and touching the supports. This consolidation will strengthen the bull trend for the seasonal coming period which is statistically the best part of the year for the stock market as I explained previously.
In the mid and long term the trend is bullish-leaning barring a violation at DJ22,420.

Please click over the chart to enlarge it.

Fundamentals:
This upside of the last days comes from the budget in the U.S. Congress, it is almost sure that it will be approved by the Senate and the House of Represents, and through this activity the tax cut will be approved too with less votes than the normally requirement. This should be ready just before Thanksgiving.
Economic news continue to be positive, constructive and give strenghto the markets like the increases of September Existing Home Sales to 5.390 million from 5.350 million units. Redbook report showed +3.5% on retail sales on a year to year basis, PMI Composite Flash at 55.7 versus last month 54.6. The corporate earnings season is open and statistically during this period the stock market goes higher. The combination of both should send the market to the up side.
We still have to pay attention to geopoliticals, ISIS or DAESCH is losing territorry and power but they can continue with terrorist attacks as the threat to the footballer Leonel Messi, North Korea continues with threats.

Dear traders and investors, we should face a consolidation in the market before Thanksgiving that will bring health for the bull movement. I am still bullish and I suggest to buy on the dips.

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

Dow Jones 23,002.20 Wow

DJ Resistance:  23,002.20  All-time high

DJ Support:      22,890
                           22,785
                           22,625      20 Days moving average
                           22,420      Strong breakout
                           22,220
                           22,210       50 Days moving average
                           22,119       Breakout
                           22,000
                           21,912
                           21,682       July peak
                           21,600       Strong
                           21,535       June peak
                           21,210       200 Days moving average
                           21,200
                           21,115       Strong
                           20,800
                           20,590
                           20,400       Strong
                           20,125       January peak
                           19,732
                           19,678       January low

Technical Analysis: 
DJIA has visited DJ23,000 and has gotten a new all-time high like the other two indexes. The bull trend is firmly and confirmed by the October breakout.
DJIA and S&P have formed a bullish ascending triangle in the last days, please watch the chart. Practically both indexes have done a new all-time high every day in the last week.
Minor supports before the strong at the breakout DJ22,420. The breakouts will work as important supports. The 50 days moving average at DJ 22,210 will be a strong support.
DJIA and S&P are walking in uncharted territory without resistance, the trend in the midterm is leaning-bullish barring supports violation.

Please click over the chart to enlarge it.

Fundamentals:

This begin of the week is so positive for the stock market, let's say nice. Economic news is supporting the new all-time highs consecutive during the last days. The earnings season is just in front of us and it is promising good corporate results. In addition President Trump and the leader of the republican majority have announced their compromise to the tax cut and it should be done in December before the year's end. All of this is fuel for the stock market which has discounted an interest hike for this coming December.

Last economic data:

- Empire State Manufacturing Survey to 30.2 from 24.4

- Redbook Report reported sales increased +3.6% on year to year basis, last month it was +3.2%

- Housing Market index jumped to 68 from previous month at 64

- September Industrial Production + 0.3% from August -0.7%

Dear traders and investors, economic continues supporting the stock market growth and I expect positive corporate earnings in the third quarter. The tax cut will stimulate the consumption which is excelent for the corporate activities and subsequently for the economy. Stay long, the trend is to the upside.

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

                       

New All-time High

DJ Resistance:  22,850.51  All-time High

DJ Support:      22,685
                           22,450       20 Days moving average
                           22,420       Breakout
                           22,220
                           22,119       Breakout
                           22,100       50 Days moving average
                           22,000
                           21,912
                           21,682       July peak
                           21,600       Strong
                           21,535       June peak
                           21,200
                           21,115       Strong
                           21,080       200 Days moving average
                           20,800
                           20,590
                           20,400       Strong
                           20,125       January peak
                           19,732
                           19,678       January low

Technical Analysis:
The indexes are in new all-time highs and in unknown territories. S&P and DJIA have gotten our targets for before the year's end, they got it earlier than we had expected.
Consolidation range is DJ22,119 - 22,850.51
The breakouts in the way up should work as strong supports.
The trend for the short and midterm is bullish-leaning barring a violation of the supports.

Please click over the chart to enlarge it.

Fundamentals:
DJIA closed 69 points higher this Tuesday. This week we will have important economic news that should affect the markets like retail's Redbook report, Mortgage applications, FOMC minutes, Jobless claims, Producer Price Index, Retail Sales figures, Business inventories and Consumer Sentiment. We will have a lot of work on the weekend analyzing the new data.
The markets are flying in uncharted territories and showing strong conviction about the economy and corporate activity. The market resilience is present almost every day.
Next week earnings season begins and I expect firm results according to the recent information of the development of the economy. That means more gains to materialize in the stock market. Normally earnings season affects the market driving it up.
The upcoming tax reform is underpinning the market.
Political possible problems in the U.S.A have to be paid attention like the budget in December, healthcare, and international field with North Korea, certification of Iran deal.

Dear traders and investors, the market is in a strong way to the upside. My targets, DJIA 22,750 and S&P 2,550, have been reached before the year's end. I need to assess the coming market behavior during this coming three month.

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

4th. Quarter Bullish

DJ Resistance:  22,646.32   All-time high
                         
DJ Support:      22,420       Breakout
                           22,220
                           22,119       Old-time close & breakout
                           22,010       50 Days moving average
                           22,000
                           21,912
                           21,682       July peak
                           21,600       Strong
                           21,535      June peak
                           21,200
                           21,115       Strong
                           21,018       200 Days moving average
                           20,800
                           20,590
                           20,400       Strong
                           20,125       January peak
                           19,732
                           19,678       January low

Technical Analysis:
Stock market got new all-time highs. The three indexes are in new territories showing a clear bull trend.
First support are at DJ22,420 and 22,220, and SP2,520 and 2,506. DJIA and S&P have passed first objective DJ22,550 and SP2,500. Next targets are SP2,550 and DJ22,750. The indexes have extended to the fourth Quarter its bull trend. This strong beginning of the Quarter promises the accomplishment of this year's target. We don't know where the limits in the new territory are only where the targets are.
The trend is bullish-leaning in the midterm barring a violation.

Please click over the charts to enlarge them.

Fundamentals:    
We are getting positive news about the economy like PMI Manufacturing Index to 53.1 and ISM Manufacturing Index to 60.8 best reading in more than 10 years. Construction spending has beaten expectations. Vehicle sales impressive 18.1 million units sold from September 2016 to September 2017, expectations were 16.7 million. Redbook retail sales increased 4.1% in year to year basis.
Southeast and Puerto Rico demand after hurricanes spur the demand of goods which is essential for the economic growth. The economy is not only doing well due the hurricanes the U.S. economy is in good shape and the current and the future demand are driving the stocks to higher prices due the better corporate sales and more activity in their different fields of avocation. It should continue the uptrend of the stock market in the time to come.

Dear traders and investors, the economy is growing, consumption is in good shape and promising to be stronger, the interest rates are increasing in a controlled path,  and then the best place to be is in the stock market in these times. We are near to our targets for the end of the year and it seems that the quarter star is strong.

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

Confirmed bullish-leaning

DJ Resistance:  22,386.01  All-time high
                           22,370.80  Record close

DJ Support:      22,179.11  Old all-time high
                           22,119       Old-time close
                           22,000
                           21,912
                           21,820       50 Days moving average
                           21,682       July peak
                           21,600       Strong
                           21,535       June peak
                           21,200
                           21,115       Strong
                           20,980
                           20,910       200 Days moving average
                           20,800
                           20,590
                           20,400       Strong
                           20,115       January peak
                           19,732
                           19,678       January low

Technical Analysis:
S&P and DJIA has confirmed its uptrend with the break out and the constant higher close during five days. S&P is atop SP2,500 which is very bullish because it has reached a technical target and stays closing over it.
First important support for S&P is SP2,480 and for DJIA is DJ21,119, next is DJ22,040 (early September peak, watch the chart).
DJIA following targets are DJ22,550 and 22,750. For S&P is SP2,550 which we should get at the end of the year.
DJIA consolidation range is DJ22,119 - 22,386.01.
DJIA and S&P are exploring uncharted territory and NASDAQ COMPOSITE is attempting 6,460 mayor resistance. The trend in the intermediate term is clearly bullish.
50 days moving average has acted as notable support, we have to pay attention to it.

Please click over the chart to enlarge it.

Fundamentals:
Last week was the best in gains since last December 2016.
Market expects substantial gains in the coming future based in an economy that becomes stronger every day, better corporate earnings and the awaited Trump's tax cut.
Empire State Manufacturing came at 24.4 versus expected19.0. FED considers "favorable macroeconomic factors supporting the backing for current equity valuations".
This is a long bull market that began in 2009 and confirmed with the breakout at the beginning to 2013 that means more than 8 years and there is room for more time to reign.
The markets are awaiting the FOMC Meeting Announcement on rates and FOMC Forecast today at 1 P.M.
I don't expect any surprise, the interest rates should stay as they are. Experts and market watchers will interpreted the FED's words and pay especial attention on when the FED will begin to unwind its balance sheet.

Dear traders and investors, the markets are not easy and to get our conclusions is very hard. It is simple when we expressed them in a few words that they don't show all the drafts that we have written. I am optimistic with the stock market let's say bullish and expect SP2,550 and DJ22,550 for the end of the year. Geopolitical risks are alive but if you are invested in solid assets don't worry.

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

S&P New Record High

DJ Resistance:  22,179.11  All-time high
                           22,119       Record close

DJ Support:      22,000
                           21,912
                           21,850       20 Days moving average
                           21,783       50 Days moving average
                           21,682       July peak
                           21,600       Strong
                           21,535       June peak
                           21,200
                           21,115       Strong
                           20,980
                           20,810       200 Days moving average
                           20,800
                           20,590
                           20,400       Strong
                           20,125       January peak
                           19,732
                           19,678       January low

Technical Analysis:
S&P did a new all-time high, SP2,496.48. DJIA should follow S&P and get a new all-time high. DJIA got a new close high at DJ22,118.86.
DJIA spiked from the support 50 days moving average tested last week and twice in August. Technically it is very positive for the index. S&P also bounced up after tested its technical support SP2,453 last week.
The charts show bullish trend for the midterm of the three indexes. S&P new target should be SP2,550. Next target for DJIA if it breaks out its all-time high with a follow through should be DJ22,750.

Please click over the chart to enlarge it.

Fundamentals:
The worst of Irma hurricane is over. It was a relief for the traders and they drove S&P to a record new high.
The measures taken like the swift aid packages and all the U.S.A. rebuilding efforts (replacing cars and trucks, new electronics, clothes, furniture, rebuilding businesses and homes, infrastructure, oust debris and so on) will participate in the economy supporting an increase in the GDP. This cost will be paid by the insurances, districts, states, families, etc. and it will stimulate the economy.
Some traders and investors think that "cash is king" at this point of the markets. This attitude is wrong right now in my humble opinion. You should holding positions to take profit of the up move that we are witnessing. We know that in this aged bull market we don't see a follow through when the market breaks an important resistance instead profit taking comes but with limited sellers. Then the up move continues. That is the reason to be holding positions. Do you remember when the S&P took SP2,300, part of the market thought that it was the limit to the highs, now we are almost at  SP2,500.

Dear traders and investors, the U.S.A. economy and the corporations are doing well, I think the horizon until the end of the year and maybe more is clean and without clouds. The best season of the year for the stock market is October to May, I am still bullish and recommend to buy the dips. Hold positions.

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

Stocks still bullish although geopolitical fears

DJ Resistance:  22,179.11 All-time high
                           22,118      Record close
                           22,000
                           21,912
                           21,900      20 Dayd moving average
                           21,770
                 
DJ Support:      21,720      50 Days moving average
                           21,682      July peak
                           21,600
                           21,535      June peak
                           21,200
                           21,115      Strong
                           20,980
                           20,800
                           20,780      200 Days moving average
                           20,590
                           20,400      Very strong
                           20,125      January peak
                           19,732
                           19,678      January low

Technical Analysis:
DJIA broke up through DJ22,000 and then reversed losing 250 points to close this Tuesday at DJ21,753.31. Next important supports are DJ21,682 and 21,600. S&P support is SP2,453  for Nasdaq Composite is 6,342.
Amid geopolitical tensions about North Korea we can say that technically the bullish trend is still in place and the indexes are well supported according to the charts.
DJIA founded support at DJ21,682 and DJ21,720 (50 days moving average), this support area is well defined and that means that the index is technically supported. The same for the other two indexes.

Please click over the chart to enlarge it.

 Fundamentals:
Last Friday we have gotten the August non-farm payroll +165,000 new jobs less than 180,000 expected and jobless rate at 4.4%. It is a good number especially because it was done in the private sector. Manufacturing was also a positive number and the Consumer Sentiment Index at 96.8 also less than expected 97.4 but still a good number.
The revision of the Q2GDP was up to3% from 2.7%. Redbook weekly retail sales showed +4.3% related to the last year. Both figures are good for the stock market.
We are witnessing a pull back of the market due the geopolitical tensions, North Korea continues with missile and nuclear experiments and does not want to low the escalations. The market is facing other threats this September like the Hurricane Harvey bill relief, U.S.A. budget, debt ceiling vote. Markets are always confronting threats and uncertainties.
The market had been concentrating on the sustained improved economic figures and the positive corporate earnings and sales.

Dear traders and investors, my opinion is that the stock market backdrop is still bullish and we have to see any pullback as temporarily. Buy on the deeps.

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

S&P at important resistance retest

DJ Resistance:  22,179.11 All-time high
                           22,000
                           21,912
                           21,900      20 Days moving average
                         
DJ Support:      21,840
                           21,770
                           21,687      50 Days moving average
                           21,682      July peak
                           21,600
                           21,535      June peak
                           21,200
                           21,115      Strong breakout
                           20,980
                           20,800
                           20,700      200 Days moving average
                           20,590
                           20,400      Very strong
                           20,125      January peak
                           19,732
                           19,678      January low

Technical Analysis:
DJIA is the strongest index between the three. DJIA has established a consolidation range DJ21,600 - 22,179.11 and has maintained over DJ21,682 strong breakout and July peak.
S&P is facing important resistance at SP2,453, it was a major support. The bulls need S&P to overcome this level to recover from the damaged chart. S&P supports are at SP2,437 and SP2,417, SP2,405 is a very important support below it the market could get a correction.
Considering August downturn and the consolidation phase we can consider that the uptrend is still in place.

Please click over the charts to enlarge them.

Fundamentals:
Geopolitical, especially North Korea, are playing in this summer doldrums and the stock market got a downturn during August.
Economy is looking well. This week we have two important facts for the stocks, first is Mr. Trump's speech about tax cuts, every investor and individuals have to assess how it affects them. Secondly, the market is going to receive important economic reports like ISM Services, ISM Manufacturing, Government Employment Situation and Personal Income, GDP update.
The most relevant should be the tax cuts because lower corporate taxes mean better corporate earnings then better stock prices, higher dividends, more money in the consumers' hands and better corporate sales and consumption.

Dear traders and investors, the tax argument is more important as incentive for the stock market but both are necessary to visit SP2,500.  

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