S&P, DJIA, NASDAQ: Bull Trend

DJ Resistance:  21,681.83  All-time high
                           21,640.75  All-time close

DJ Support:      21,535       June peak
                           21,500       20 Days moving average
                           21,305
                           21,280       50 Days moving average
                           21,200
                           21,115      Strong breakout
                           20,980
                           20,800
                           20,590
                           20,400       Very strong
                           20,210       200 Days moving average
                           20,125       January peak
                           20,000
                           19,732
                           19,678       January low

Technical Analysis:
S&P got a new all-time high in its way to SP2,500. DJIA is lagging but its trend is bullish. NASDAQ COMPOSITE also is in its all-time high.
DJIA next resistances are DJ2,640.72 Dow's record close and DJ21,681.53 all-time high. Supports are between DJ21,500 to DJ21,535, June peak.
The three indexes remain bullish and have gotten its all-time high in July. We don't see selling pressure in those levels.
Next targets: S&P 2,500, DJIA 21,785

Please click over the chart to enlarge it.

 Fundamentals:
In young bull markets it is easy to buy in the low prices and the surging corporate earnings will feed the stock prices. In a mature bull market the stock price increase comes from the corporate rate earnings growth precisely and it is the result of the economy. 2013 stock market was young bull, now we are in a mature bull market with fair value achieved. Currently the best place to have the investments is in the stock market achieving between 5 and 10% per annun instead 2 and 3 % p.a. from the bond market.
We are going to have almost 1,000 corporation reporting this week. It is very important for every corporation because it will determine their prices and future perspective, it is in the individual vue and for the industry segments.
The market doesn't need the complete data to take decisions, it takes them with a sample data. The economy has previously announced to be in a good shape. It is enough to drive the stock market in the bull trend.
Today we have to pay attention to the FOMC at 2 p.m.

Dear traders and investors, we are in the bull trend having the summer rally, slow but it is. I am worry about the summer doldrums, the operations volume had notably increased this year because money is coming to the stock market, how would it be during the summer?

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

                        

DJIA and NASDAQ New All-time High

DJ Resistance:  21,681.53  New all-time high
                         
DJ Support:      21,535       June peak
                           21,450       Strong
                           21,400       20 Days moving average
                           21,305       Near-term support
                           21,200
                           21,115       Strong breakout point
                           20,980
                           20,800
                           20,590      
                           20,400       Very strong
                           20,190       200 Days moving average
                           20,125       January peak
                           20,000
                           19,732
                           19,678       January low

Technical Analysis:
DJIA and NASDAQ COMPOSITE got a new all-time high. In the last months the 2 breakouts were not followed by a solid follow through this confuses the market. The next target for DJIA is DJ21,785 and SP2,500. It is difficult to navigate in uncharted territories.
June peak DJ21,535 is an inflection point and support now, next strong support is the area between DJ21,400 and DJ21,450.
The uptrend is clear and constructive. The bull market is alive.

Please click over the chart to enlarge it.

Fundamentals:
Earnings season arrived and it would be the main focus this week and next days. If corporate earnings are solid the stock market will reach the next up leg. We are going to get enough information about the corporations next week to be clear if we are going to have a summer rally.
The economic report from Q2 showed strength what would discard poor corporate earnings but good income which should show interesting corporate earnings.
Traders will take profit near SP2,500 and DJ21,785. Long term investors will maintain their positions riding the bull market until real signs of bear will see in the horizon.

Dear traders and investors, by I have explained in above I suggest to stay long and continue buying in the deeps. We have to be ready for the next up leg and a new consolidation area.

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

Long Term Bullish

DJ Resistance:  21,562.75  New all-time high
                           21,535       June peak
                           21,490

DJ Support:      21,305       Near-term support
                           21,200
                           21,190       50 Days moving average
                           21,115       Strong breakout point
                           20,980
                           20,800
                          20,590
                           20,400       Very strong
                           20,125       March peak
                           20,060       200 Days moving average
                           20,000
                           19,732
                           19,678       January low

Technical Analysis:
DJ21,115 and SP2,405 break points still are excellent supports and while the indexes stay over them the bullish trend is clear for the mid and long term.
DJ21,305 is the near term support and the important resistance for the bulls is DJ21,535 (June peak). Next support is the 50 days moving average at DJ21,190 and for S&P is SP2,415.

Please click over the chart to enlarge it.

 Fundamentals:
Economic news that we have to watch:
Q2 GDP estimate at +2.7%
ISM Services 57.4 positive number
Non-farm pay roll 222,000 jobs added when the market was expecting 170,000
57.8 ISM Manufacturing, excellent figure highest in 2 years and a half.
10 years bond yield 2.4% p.a.

With these economic indicators we can expect a better consumption power and corporate earnings growth to go higher. Q2 corporate earnings season is at portas.

I have to indicate that the last breakout on July 3rd. and the previous missed follow through. It is becoming as normal in the last times.

When this bull market will end? It comes most likely from economic decline or the bear market comes from overvalued stock market. In these moments the stock market pays almost the double than bonds.

Dear traders and investors, stocks is the market where we have to be now, we should see the S&P 2,500 in the next leg but it doesn't mean that we are going to sleep while we wait for that level, always we have to be alert.

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

DJIA New All-time High

DJ Resistance:  21,562.75  New all-time high
                           21,529       All-time record close
                           21,490
               
DJ Support:      21,380      20 Days moving average
                           21,200
                           21,125      50 Days moving average
                           21,115      Strong
                           20,980
                           20,800
                           20,590
                           20,400      Very strong
                           20,125      March peak
                           20,000
                           19,990      200 Days moving average
                           19,732
                           19,678      January low

Technical Analysis:
DJIA got a new all-time high on Monday without follow through. S&P approched its all-time high but could not come through. NASDAQ COMPOSITE is the weakest between the three indexes.
DJIA and S&P are consolidating the space in the charts the y have won.
The trend in the short and midterm is bullish-leaning.

Please click over the charts to enlarge them.

 Fundamentals:
 DJIA did a new all-time high what not surprised me as I have mentioned in the priors actualizations of the blog. The problem is the follow through, the three indexes are well supported and ready to go up. In NASDAQ COMPOSITE we have witnessed a sell-off but it was mostly about the profit taking from the conservative blue chip stocks tech, traders and investors have taken good profits from them and they are rotating their portfolios.
This Wednesday the market is waiting for the FOMC minutes at 2 p.m. This Thursday we will know the ADP employment, trade deficit, ISM nonmanufacturing index and Friday nonfarm payrolls, unemployment rate and average hourly earnings. If they come positive they will be enough to fuel the market besides in one week earnings season will be in place.
Economics and corporations are healthy and in shape, GDP Q2 is expected 3% instead 2.7% previous estimated. ISM Manufacturing Improved from 54.9 to 57.8. New Orders are at 63.5, it is a good number.

Dear traders and investors, I expect a Summer rally based on the economy and corporate earnings but I am not yet clear around the Summer doldrums due the continues uncertainties about Mr. Trump's election promises. The market is consolidating and ready for new highs barring a violation of the supports. My advice is to stay long and buy on the deeps.

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