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miércoles, 22 de noviembre de 2017

New Record Highs: DJIA, S&P and NASDAQ

DJ Resistance:  23,617.80  All-time high
                           23,600

DJ Support:      23,470       20 Days moving average       
                           23,250       Strong
                           23,174       Gap
                           23.002       Strong, Gap
                           22,980       50 Days moving average
                           22,890
                           22,795
                           22,420       Strong, breakout
                           22,119
                           22,000
                           21,912
                           21,682       July peak
                           21,640       200 Days moving average
                           21,600       Strong
                           21,535       June peak
                           21,200
                           21,115
                           20,800
                           20,590
                           20,400       Strong
                           21,125       January peak
                           19,732
                           19,672      January low

Technical Analysis:
The trend is bullish, the three indexes show us new record highs. The near term supports, DJ23,250 and SP2,564, were successfully tested and the indexes rebounded from there to new all-time highs that is very bullish and puts the groundwork for potential follow-through.
The 20 days moving average are also working as supports.
We can conclude that the three indexes are behaving technically constructive and they are in bullish-leaning mood.
The retest of the short term supports has defined the range and given projections to visit new historical highs. 
                          
Please click over the chart to enlarge it.
 Fundamentals:
Existing Home sales came at 5.480 million units in the annualized figures, last month it was 5.370 million units. Retail sales did well too.

Dear traders and investors, we have to be thankful this year and these Thanksgiving days we have to share with our families and friends. I wish you all the best and we will continue working together trying to understand these passionate markets.

Happy Thanksgiving!

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

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