U.S. Budget Deal

DJ Resistance : 16.174     All-time high
                            16.097     All-time high close
                            16.058     Monday's high

DJ Support     :   15.900
                            15.797     Strong support confirmed
                            15.721     Strong (October pick)
                            15.550     Strong
                            14.760     Very strong

Very sorry for the delay, it was because I was flying since Tuesday noon until this morning.

Technical Analysis : 
The S&P did a new all-time high and the Nasdaq got highs we didn't see in the last thirteen years. The Dow Jones Industrial Average is lagging but in a constructive way. It bounced up from the strong support spanning DJ15.721 - 15.797. This support area is confirmed now. My opinion is that de DJ over 15.797 is strong and bullish.
The DJ index is still over 20,50 and 200 moving averages. All of these put the index in a positive position and it has to overcome DJ 16.097,all-time closing high, to look for new highs.

Please click over the chart to enlarge it.

The "V" reversal target is about DJ16.600.

Fundamentals :

As I explained in the last actualization of the blog we have to keep the discipline and do not take emotional decisions with these back and forth of the market during these days.

If we are going to have the Christmats Rally, it is going to begin on December 23rd. and finish the first week of January.

We are getting good economic news like unemployment, non farm payroll after a positive earnings season. There is U.S.budget deal which is excellent, we have to analyse the terms for the economy.After all of this,

I feel confortable with the idea to close the year with the DJ over 16.500

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

Ulises