S&P & Dow Jones at mayor resistance

DJ Resistance:  26,616.71  All-time high
                           26,000
                           25,835.35  March high
                           25,402       Mayor resistance
                         
DJ Support:      25,086       May high
                           24,945
                           24,876       2017 high
                           24,744       50 Days moving average
                           24,719       2017 close
                           24,579       20 Days moving average
                           24,451       200 Days moving average
                           24,280
                           24,000       Strong
                           23,500
                           23,250       Strong, gap
                           23,173
                           23,002       Strong, gap
                           22,890
                           22,795
                           22,420       Strong, breakout
                           22,119
                           21,912
                           21,600
                           21,535

Technical Analysis:
July is a positive month for the stocks. NASDAQ Composite got a new all-time high. S&P is attacking a mayor resistance SP2,802. Dow Jones is approaching a mayor resistance at DJ25,402. DJIA is the weakest index between the three.
DJIA has exceeded the resistance at DJ25,000 and has closed successfully over it in the last three sessions.
DJIA also is closing over 20, 50 and 200 days moving average. This is positive and confirm the direction of the trend.
In the intermediate and long term, the trend is bullish-leaning. The third trimester has begun with the bulls in charge.

Please click over the chart to enlarge it.

Fundamentals:
Tariffs are weighting on the market; trade war fears are in the air. It would be higher prices for the internal consumption in the U.S.A. This country is the only one in the world that could live isolated from the rest of the world.
Earnings season begins officially this Wednesday with Alcoa, it will be after the market closes. The main focus will be on second quarter's earnings season.
Do not forget the growing corporate earnings, the rising and strengthening economy and the excellent employment figures.

Dear traders and investors, today's story is short because we could be in front of a Summer rally due earnings season's expectations. The market looks ballast for higher stock prices. Let's see it!

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

3 Indexes are Bullish

DJ Resistance:  26,616.71  All-time high
                           26,000
                           25,835.35  March peak
                           25,086       May peak
                           24,876       2017 peak
                           24,719       2017 close
                           24,642       50 Days moving average
                           24,600       20 Days moving average
                           24,401       200 Days moving average
                           24,280
                           24,000       Strong
                           23,500
                           23,250       Strong, gap
                           23,174
                           23,002       Strong, gap
                           22,890
                           22,795
                           22,420       Strong, breakout
                           22,119
                           21,912
                           21,600
                           21,535

Technical Analysis:
First semester was hard, the financial indexes did new all-time highs and stayed trapped in a range when they have the potential to go up.
The three indexes bounced up and have a good start in this third trimester. The three have recovered the closing over its 20, 50 and 200 days moving average which is bullish. The Dow Jones Industrial benchmark is the weakest between the three.
DJIA has closed over DJ24,719 (2017 close) and DJ24,876 (2017 peak). It shows a shift to a positive momentum.
Next resistance for S&P is SP2,802 (March peak).
The trend of the indexes is bullish in the intermediate and long term.

Please click over the chart to enlarge it.

Fundamentals:
The last Friday and beginning of the new week's bounce up was originated by Friday's job report. It was positive and showed a growing economy. Dow Jones, S&P and NASDAQ closed higher for 4th. days in a row. Expectations of corporate second quarter earnings weights in the market too.
Tariff concerns were neutralized by the estimation that the tariff hike will cost only 2% of the S&P in earnings growth. That means that the bull market will not be actually affected by the trade war especially when the economy is stimulated by the tax cut and the corporate earnings are growing with expectations of two digits. All that means that the fundamentals look splendid for the country and the price stocks.
Retail sales continues going up, Redbook report indicated same store sales grew at a rate of 5.5% versus last month at 4.4% which is actually brilliant.

Dear traders and investors, I expect indeed an excellent second half of the year based on the tax cut, growing economy and consumption.

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

Dow Jones weaker than S&P

DJ Resistance:  26,616.71  All-time high
                           26,000
                           25,835.35  March peak
                           25,086       May peak
                           25,000
                           24,905       20 Days moving average
                           24,876       2017 peak
                           24,719       2017 close
                           24,603       50 Days moving average
                           24,356       200 Days moving average
                           24,280
                         
DJ Support:      24,000
                           23,500
                           23,250       Very strong
                           23,174
                           23,002       Strong, gap
                           22,890
                           22,795
                           22,420       Strong, breakout
                           22,119
                           21,912
                           21,600
                           21,535

Technical Analysis:
At the opening of the third quarter S&P is in bullish trend for the mid and long term and DJIA instead is in a notably weak position. Volatility is constant present as it was on the first semester of this year.
S&P range is SP2,692-2,742.
DJIA has been closing under the 200 days moving average during the 6-last session. It is bearish. DJIA needs to overcome the 200 days moving average (DJ24,356) and eventually DJ24,719, 2017 close, to aspire to return to the bull path. DJ24,603 (50 days moving average) is also important. DJ24,000 should be a good support for the short term. If you watch the daily chart, you will realize that DJIA is doing a lower low with respect with end May low (DJ24,247), it shows the trend shift.
The negative trend line should act as support for DJIA.

Please click over the chart to enlarge it.

Fundamentals:
We are at the beginning of the 2018's third quarter and earnings season is coming; would we have a Summer Rally? The market has enough chances to bring it based on the strong economy. You can confirm the positive that we have gotten last week and also Monday and Tuesday like Retails sales up 4.4%, Factory Orders 0.4%, and so on.
We have to watch how the market is going to act today after the release of the FED's meeting minutes and tomorrow U.S. jobs report.
The trade war clouds are weighing on the market. The instability and fears do not allow to have a consistent rebound. Every intent of the market is avoided by the new measures and threatens taken by U.S.A, China and EU.

Dear traders and investors, I expect to have a positive market in this second semester of 2018. I expect the economy will continue its growing path and the corporations doing better. The trade war is a constant obstacle but I actually expect a leg up soon.

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