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miércoles, 11 de octubre de 2017

New All-time High

DJ Resistance:  22,850.51  All-time High

DJ Support:      22,685
                           22,450       20 Days moving average
                           22,420       Breakout
                           22,220
                           22,119       Breakout
                           22,100       50 Days moving average
                           22,000
                           21,912
                           21,682       July peak
                           21,600       Strong
                           21,535       June peak
                           21,200
                           21,115       Strong
                           21,080       200 Days moving average
                           20,800
                           20,590
                           20,400       Strong
                           20,125       January peak
                           19,732
                           19,678       January low

Technical Analysis:
The indexes are in new all-time highs and in unknown territories. S&P and DJIA have gotten our targets for before the year's end, they got it earlier than we had expected.
Consolidation range is DJ22,119 - 22,850.51
The breakouts in the way up should work as strong supports.
The trend for the short and midterm is bullish-leaning barring a violation of the supports.

Please click over the chart to enlarge it.


Fundamentals:
DJIA closed 69 points higher this Tuesday. This week we will have important economic news that should affect the markets like retail's Redbook report, Mortgage applications, FOMC minutes, Jobless claims, Producer Price Index, Retail Sales figures, Business inventories and Consumer Sentiment. We will have a lot of work on the weekend analyzing the new data.
The markets are flying in uncharted territories and showing strong conviction about the economy and corporate activity. The market resilience is present almost every day.
Next week earnings season begins and I expect firm results according to the recent information of the development of the economy. That means more gains to materialize in the stock market. Normally earnings season affects the market driving it up.
The upcoming tax reform is underpinning the market.
Political possible problems in the U.S.A have to be paid attention like the budget in December, healthcare, and international field with North Korea, certification of Iran deal.

Dear traders and investors, the market is in a strong way to the upside. My targets, DJIA 22,750 and S&P 2,550, have been reached before the year's end. I need to assess the coming market behavior during this coming three month.

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

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