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