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