DJ Resistance: 26,616.71 All-time high
25,500 March peak
DJ Support: 25,086 May peak
25,902 20 Days moving average
24,876 2017 peak
24,719 2017 close
24,516 50 Days moving average
24,100 200 Days moving average
23,250 Very strong
23,002 Strong, gap
22,420 Strong, breakout
June breakout seems supported. S&P is fighting with SP2,780 resistance (inflection point) and NASDAQ Composite is doing and keeping new high.
DJIA is over 20, 50 and 200 days moving average and broke out DJ25,086 (May peak) which is extremely bullish. Now the May peak (DJ25,086) should be a strong support, next is DJ24,876 (2017 peak) and DJ24,716 (2017 close).
DJIA has elongated its June break out when broke DJ25,086 (May peak). DJIA theoretically has formed a W with a double bottom market by March (DJ23,533) and May (DJ23,531) low. The breakout was done at DJ24,859 (April high) and this W has a target in the DJ26,100 area.
Now the stronger financial index is NASDAQ Composite.
Price action in the 3 financial indexes is notably bullish.
Please click over the chart to enlarge it.
Interest rates hike in 0.25% is almost sure done this afternoon after the FED Meeting. That will show the FED's confidence on the state of the economy. This pronouncement is for today at 2 p.m. o'clock.
There is nothing about the summit between Trump and Kim Jon Un but it was positive. Time will show if North Korea denuclearizes, that is the world's hope. In my opinion the meeting was a good first step.
The economy is in good shape, corporate profits are growing, consumer confidence at highs in the last 18 years.
Mythical investors like Dimon, Buffet, etc. have been lauded the behaviour of the market and the economy and they expect stocks moving higher.
Months before we have determined DJ23,250 as a decisive support for the bulls and we have expected high volatility during the months to become. Now, the moment for the bulls is coming with the second semester at view.
Dear traders and investors, we have worked all this volatility with calm and clear expectations, I am not sure if the volatility times are at the end but I am still bullish with the stock market and optimist with next semester.
Good luck, viel Glueck, buona fortuna, buena suerte, bonne chance!