Bullish continues the trend

DJ Resistance:  24,552.97  All-time high
                           24,534.04  Old all-time high

DJ Support:      24,335
                           24,320       20 Days moving average
                           24,100
                           23,950
                           23,600     
                           23,500       Gap
                           23,480       Gap
                           23,470       50 Days moving average
                           23,250       Strong
                           23,174       Gap
                           23,002       Strong, gap
                           22,890
                           22,795
                           22,420       Strong, breakout
                           22,119
                           22,000
                           21,912
                           21,890       200 Days moving average
                           21,600       Strong
                           21,535       July peak
                           21,200
                           21,115
                           20,800
                           20,590
                           20,400       Strong
                           21,125       January peak
                           20,732
                           20,672       January low

Technical Analysis:
The three indexes or the major benchmarks maintain a bull trend and in the last days their daily closes are showing record after record.
The November breakouts were impressed because they were done two months after a breakout and a solid consolidation. With the November breakout the panorama became similar in December.
Near term support is DJ24,100 and strong at DJ23,950.
DJIA and S&P are closing over the 20,050 and 200 days moving averages which is technically powerful for the bulls.
The three indexes are running in uncharted territories that could give extremely volatility. We recognize that the market is very supported and the bull trend is clearly barring support at DJ23,002.
The consecutive record closes that we are witnessing in the last days are technically very constructive for the bulls.
The Nasdaq Composite is lagging behind.



Please click over the chart to enlarge it.

Fundamentals: 
Non-farm payroll last Friday showed the creation of 228,000 new jobs, market was expecting 190,000. The details in this great number is very important to understand the State of the economy. Private payrolls were up 221,000 and public payroll were up 7,000. In this context Professional & Business Services managed 46,000 new jobs, Construction gained 23,000, Manufacturing advanced 31,000 and Health Care boosted 30,000. The unemployment rate lingered at 4.1% which is 17-year low. It was an excellent employment report that triggered a market rally at the end of the week.
Yanet Yellen will drive the FED today in her end as President, it will be very important her speech about interest rates after her last FOMC meeting. I expect an increase of .25% due the solid economy, corpations activity and demand.
The terror attack in New York was controlled inmediately. New york is a resilient city and the markets reacted with calm.

Dear traders and inventories, there are three weeks more of trading before of the year's end and based in the economy, corporations and the demand of consumers I still expect even more gains, possibly a Christmas rally.

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