Dow Jones approaches to 25,000

DJ Resistance:  24,876.07  All-time high

DJ Support:      24,715.60
                           24,500
                           24,200       20 Days moving average
                           24,100
                           23,950
                           23,622       50 Days moving average
                           23,600
                           23,500       Gap upperside
                           23,480       Gap downside
                           23,250       Strong
                           23,174       Gap
                           23,002       Strong, gap
                           22,890
                           22,795
                           22,420       Strong, breakout
                           22,119
                           22,000
                           21,974       200 Days moving average
                           21,912
                           21,600
                           21,535       July peak
                           21,115
                           20,800
                           20,590
                           20,400       Strong
                           21,125       January peak
                           20,732
                           20,672       January low

Technical Analysis:
DJIA is targeting DJ25,000, S&P to SP2,700 and Nasdaq Composite to 7,000. The three indexes are in uncharted territory which makes difficult to project the upside move. They have reached new all-time highs.
DJIA first support is the breakout point DJ24,500. The equivalent in the S&P is the support at the breakout point at SP2,665.
The three indexes are over its 20, 50 and 200 days moving average which are strong supports and it means very bullish.
The trend is bullish and there is a rotation to the wealth sectors of the market.

Please click over the chart to enlarge it.

 Fundamentals:
The economy is actually doing well and therefore the corporations. The consumption in the U.S.A. is solid.
Construction and Business Equipment in good shape according to Industrial Production figures which were +0.2%.
Up to 2.1% the Atlanta FED Business Inflation Expectations which is positive.
The Empire State Manufacturing at 18.0
Housing Market index jumped to 74 from 70.
Redbook reported, retail sales, growth rate at 4.4%, year to year, versus the previous month gains at 3.3% also year to year.
Last Housing Starts were at 1.297.000 units (annualized) better than the previous 1.256.000.
Today the market should get the confirmation by the Congress, both House of Representatives and Senate, of the Trump Tax cut bill, it would be very positive.
This Friday is the final delay to avoid the Government shutdown, I expect both parties will get an agreement.

Dear Traders and investors, let me say that 2017 was avery  positive year, DJIA increased in 5,000 points and there is room for a small Christmas Rally.

I would wish you an excellent time with your families and all the happiness that we deserve as traders, investors and colleagues, our life, fight and profession is very hard.

Merry Christmas!
Happy Hollidays!


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