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