Dow Jones at Important Support before FOMC

DJ Resistance:  21,169      All-time high
                           21,000

DJ Support:      20,800     20 Days moving average
                           20,743
                           20,640      Breaking point
                           20,600      Strong
                           20,300      50 Days moving average
                           20,125      Strong January peak
                           20,000      Very strong
                           19,800
                           19,732      Strong
                           19,678      January low
                           19,200      Strong
                           19,090
                           18,800
                           18,668      Old all-time high
                           18,247      August low
                           18,000      Strong
                           17,833.23 November low
                           17,579      Inflection point
                           17,125      Very strong

Technical Analysis:
DJIA filled the gap and is fighting the DJ19,850 support, next is DJ20,743 and DJ20,600 area. For S&P support is at SP2,351.
March began with a strong breakout doing a new all-time high and the market is trying to consolidate the new backdrop.
The trend points higher in the great-picture barring a violation of supports. The panorama looks bullish.

Please click over the chart to enlarge it.

   
Fundamentals:
The market is moving to supports to try them and experiences the continuing plunge of oil and the 10 years bond yield came up, from 2.31% p.a. to 2.61%
Last week  non-farm payroll and the unemployment rate showed a good economy that put in place high expectations for a rate hike this week after FOMC, this Wednesday 2 p.m. Regularly an increase in the interest rates are negative for the stocks but if the market considers that the FED only increases the interest rates when they find well supported bases to think about a robust economy, the market will welcome the increases. In my opinion it is discounted three rates hike in 2017. Besides, this week we will get important figures especially on Friday like Leading Indicators which means that support will be tested furiosly.

Dear traders and investors, the March interest rate hike is discounted by the market, my opinion stays with a consolidation phase before the next earnings season in April. we do not be surprised if he stock market rises after the FOMC meeting comunication. Be ready at 2 p.m.

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