Consolidation with Dow Jones new record high

DJ Resistance:  17,000
                            16,971.17  All-time close high

DJ Support:        16.815       20 Days Moving Average
                            16,743       May peak prior resistance, now support
                            16,580       Strong
                            16,312       Strong
                            16,015       Very strong

Technical Analysis:
The DJIA has done a new record high on Friday, same was done by S&P. NASDAQ Composite has gotten its best level from 2000.
Support is at DJ16.815 20 Days Moving Average. Next is DJ16.743 May peak, it was resistance, breakout and now is strong support. The 50 and 200 days Moving Averages are good support and point the market up move.
The DJIA over the 6 months positive trend lines, please watch the chart, and the June bounce up from DJ16.743 May peak, previous resistance and breakout level confirm the bullish market behavior.
There is a clear Dow Jones uptrend in the last five years, please watch the ten years chart.
The DJ is in a consolidation right now with a bullish bias. The trend is up.

What worries me is the decreasing stock trade's volume in the last three years. Normally breakouts trigger higher volume than usual and that confirm the new development in the market. You can realize that the S&P like DJIA are doing new highs without a strong follow through in a low volume. Little by little the breakouts are confirmed and both, S&P and DJIA, are in new record highs. That way the S&P will reach the SP2.000 or will be in a healthy correction before.

Fundamentals:
Last week economic news were positive like leading indicators, Fed Philly Survey, Jobless Claims, etc. The market is expecting good economic news this and next week. For example we have GDP Revision on Wednesday (the only one negative), Personal Income, Consumer Spending and so on ending next Thursday with unemployment rate and non-farm payroll. We will face second quarter earnings season in ten days. All these could be the catalyzers to visit S&P2.000.
Meanwhile the market is going to be in a consolidation phase as I explained last week.
Dear traders and investors, I am confident that the market will go up and we will see new historical highs. No more comments for now because the market is resting consolidating. The earnings season and the economic news will act to see it, or to get a short lived correction.

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

Ulises