Dow Jones times of consolidation

#DowJones  #Stockmarket

DJ resistance :  16.576.66  All-time closing high
                           16.520       Strong
                           16.300
                           16.250

DJ Support:       16.174       November peak
                           16.103
                           16.040
                           15.721       Very strong
                           15.340.23  Strong

Technical Analysis:
Dow Jones Industrial Average broke up DJ16.174 (November peak) and DJ16.250 but closed at DJ16.204.40 on Monday. The DJ is in consolidation times, we didn't get an explosion to the upside after it broke resistance at DJ15.721.
The DJ is lagging with respect to S&P and NASDAQ. I think de S&P is ready to break its all-time high, but if not we could be in "dead cat bounce". Please watch the S&P chart in the last week blog.
The S&P did new all-time high on Monday and retraced bellow support SP1.848 on Tuesday. Next support is DJ1.828. NASDAQ has rallied to its best level in fourteen years.
Let's say that the S&P technically is doing well, that explains its possibility for new highs.
The market moved a good volume on Monday and failed to close over important resistances broken. That could mean weakness because after a big battle the bulls couldn't maintain its conquests.

Please click over the charts to enlarge them.

Fundamentals:
I am very pleased to have reed weeks ago that the DJ was entering a phase of consolidation which have taken place.
We faced some weak economic news like consumer sentiment, but other are positive. U.S.A. and EU economies are growing. They have taken decisions to correct its weakness and hopefully we are going to see encouraging results. For next week we have the unemployment and non-farm payroll figures, those are very important for the market direction . Do not forget that regularly January is positive for the stock market and February and March loose.
I am still optimistic with the stock market and the recovery of the economies in U.S.A. and EU, for example Spain is improving, they have adjusted down wages which has resulted in increased exports because they are more competitive and you can see their exports figures in the last two months.

Dear traders and investors, I feel very sorry for the delay, I had some problems with the installation of the new internet equipment.

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

Ulises