Dow Jones new high?

DJ Resistance :  15.721      All-time high
                             15.680.35 Record closing high

DJ Support      :   15.543
                             15.500     Minor
                             15.375    Strong
                             14.760    Strong
                             14.400    Very strong

Technical Analysis :
As I explained last week the Dow Jones encountered a big fight between bulls and bears in the the levels of its all-time high. It is not a coincidence, it is the defined battle field where sellers and buyers are. The S&P is in unknown territory and the Dow Jones is lagging. The Dow Jones needs a weekly close over DJ15.721 to confirm that it is following the S&P in new territory. For that, the Dow Jones index has to overcome DJ15.658, August peak, DJ15.680.35, record closing high, and 15.721, October peak.
Technically the Dow Jones has this three positive factors ;
- Dow Jones daily chart shows the index over 20,50 and 200 moving average(MA).
- Dow Jones  index has formed a "V shape reversal" in the daily chart of the last two months and the range is very clear DJ14.760 to 15.721.
- The Dow Jones is still over the positive trend and in the positive channel coming from March 2009.

According to the technical analysis also it can be the DJ drag down the S&P if the DJ could not penetrate the resistances. Be aware!
The S&P should drag up the blue-chip benchmark.

Fundamentals :
The U.S.A. economy is growing in a slow mode. The market needs a sustainable growth. The October non-farm payroll and unemployment are coming this Friday.
The other important point for growth is the consumer confidence. Without consomption the economy is going to be weak.
Those are the predominant factors for this week.

The bulls and bears are fighting in these high historical levels of the market. That explains why the Dow Jones could not overcome the resistances but the pullback is shallow, I find it bullish. The bulls are concentrating its forces to attack the resistances again. The bears have a hard work in their lines to stop the bulls. November and December are the high sales season of the year.
Dear traders and investors, are we going to have Thanksgiving and Christmast rally? Fundamentals and technical analysis are pointing for the rallies.
Good luck, viel Glueck, buona fortuna, buena suerte, bonne chance!
Ulises