Dow Jones: bulls are in control

DJ Resistance:  17,120        Record high
                            17,068.26  All-time closing high

DJ Support:        16,985
                            16,805.      Strong
                            16,743       Very strong May peak
                            16,580 - 16,615 Very strong

                            16,312       Strong
                            16,015       Very strong

Technical Analysis:
This Tuesday the Dow Jones Industrial Average (DJIA) has gotten a new record high at DJ17,120. It closed at DJ17,060.68. The S&P is looking for new record high instead.
The DJ scenery is stronger than S&P and NASDAQ Composite. It is clear that DJ is confronting resistances and is going up step by step. Its challenge is to get new record highs and close above its all-time closing high. As DJ stays challenging the resistances the chances for a breakout are imminent.
You can see in the daily chart that de 20 days moving average supported very well, buyers were there. That means that on technical retracement buyers act. It is very positive and constructive for the DJIA.
 The 20, 50 and 200 days moving average point up and should be strong support for the blue-chip benchmark.
The DJIA path is bullish, the trend in the last six months is to the upside.
Pleaase, click over the chat to enlarge it.

Fundamentals:
2nd. quarter earnings season and the last economic news in the U.S.A. are positive as we expected. Europe has also improved (watch Spain and UK for example). Today's news about China were positive too. Banks are doing well and that support the market for the moment. Personally, I expect to continue with these positive news during the next ten days that will give fuel to the market to attempt the resistances and possibly find new highs.
Dear traders and investors, not too much to say this time because you have to navigate in these markets technically during the next ten days like an instrument fly. Watch your 5, 15, 60 minutes and daily charts every half hour. I am still positive with the market and expecting to see new highs before the "Summer Doldrums". This is not an interesting game, this is a serious activity. Be professional!

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

Ulises