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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