S&P, Nasdaq new all-time high but Dow jones no

DJ Resistance:  18,289     All-time high
                           18,053-18,103 2014 Peak

DJ Support:      17,980     50 Days moving average
                           17,750     Light
                           17,579     Strong March low
                           17,410     200 Days moving average
                           16,990     Very strong
                           15,854     Very strong

Technical Analysis:
S&P and NASDAQ Composite got new all-time high, DJIA no. After new highs the stock market retraced but it is still in a position to attempt new territories.
In technical analysis the resistances are more important than the supports. The attempt and the April consolidation in the upper side are very constructive for the bull case.
50 Days moving average DJ17,990 and the positive trend line, please watch the chart, are important supports in the short term. Below those levels we could see a retracement to DJ17,579.
The consolidation range in the big figure is DJ16,990-18,289 and the chart shows clearly the trend of the stock market to the upside. We have to pay attention to the last three months range DJ17.579-18,289.
Market uptrend is in play.

Please click over the chart to enlarge it.

Fundamentals:
DJIA is the weakest and is lagging. The stock market needs a catalyzer to get new all-time highs. April is ending, the earnings season and economic news were not so satisfactory to the investors to trigger big buys that would bring the market to unknown territories.
As I have explained, the absence of a new catalyzer maintains the stock market in the range bound trading DJ17,579-18,289.
Dear traders and investors, there are two possible catalyzers this week to put the market on new highs. On Wednesday, Q1 GDP and on Friday ISM Manufacturing.
Not too much to say, this week is decisive. Regularly May is not a good month for trading.
Good luck, viel Glueck, buona fortuna, buena suerte, bonne chance!
Ulises

Still Bullish at Resistance

DJ Resistance:  18,289     All-time high
                           18,054 - 18,103 2014 peak

DJ Support:      17,750     Light
                           17,579     Strong March low
                           17,400     Strong 200 days moving average
                           16,990     Strong
                           15,854     Strong

Technical Analysis:
DJIA is still in the clear range DJ17,579-18,289. The index dropped last week and from the low of the week, DJ17,750, bounced up looking for the strong resistance DJ18,054-18,103 equivalent to 2014 peak. These attempts to break the strong resistances are positive for the bull case. And the DJIA is well supported at DJ 17,750 and 17,579.
The market behavior is constructive for the upside barring a violation of DJ17,579 and 16,990.

Please click over the chart to enlarge it.

Fundamentals:
We are getting negative reports then market goes down and immediately bounces up. The market went down drastically on Friday due to weak Greece and China news. We saw a strong rebound on Monday. DJIA retraced light on Tuesday, the index is near the important resistances but it is not able to penetrate them. What does it mean? My interpretation is that the earnings season was not strong enough, manufacturing data was soft then the market needs a good catalyzer to bring us to new historical highs. Maybe we can conclude that the stock market is in a holding pattern near its all-time high. For the moment I don't see this special catalyzer.
Dear traders and investors, April is ending, May is not good for the stock market usually. The bull market is still in place waiting for something. If the stocks are fully valued, meaning that there is not enough fuel, then the market needs a correction. We have to pay attention this and next week to the resistances. I am still optimistic with the stock market but we have to be flexible to face changes.

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

Near all-time high

DJ Resistance:  18,289     All-time high
                           18,054     2014 closing peak

DJ Support:      17,900     50 Days moving average
                           17,800     Triangle side
                           17,579     Strong March low
                           17,390     Strong 200 Days moving average
                           16,990     Very strong
                           15,854     Very strong

Technical Analysis:
Market is working in its short term range DJ17,579-18,289 which is positive and constructive.
Right now the triangle formation is important for the short term, pay attention to it.
The consolidation range DJ16,990-18,289 is solid and positive for the bull case. If DJ16,990 is broken down, we have to put all the alert flags.
Please, watch the chart, it is a very clear chart to navigate DJIA.
The bull case is in place, you have to have that in your mind according to the technical analysis.

Please click over the chart to enlarge it.

Fundamentals:
We are getting positive economic reports like retail sales on Tuesday and for this Wednesday we are going to get Industrial Production and Empire State Mfg survey.
I still think that we are receiving economic reports that sustain a delay on the interest rates raise by FED,
Dear traders and investors, my comment is short this week because the market needs a catalyser to break out the resistances and get new highs. The catalyzers are the corporate earnings this April, what we have seeing are positive but they have to continue in this paths if we are going to see new all-time high this month.
I have tried to put all in the chart to facilitate your trading and your portfolio management. The market is in a good moment but nothing is written.
Good luck, viel Glueck, buona fortuna, buena suerte, bonne chance!
Ulises

Technically bullish but.......

Very sorry for the delay, there was a massive internet breakdown in my area

DJ Resistance:  18,289     All-time high
                           18,054     2014 close high
                           18,000     Psycological barrier

DJ Support:      17,579     Strong March low
                           17,480     Strong 200 days moving average
                           16,990     Very strong
                           15,854     Very strong

Technical Analysis:

DJIA has found a very good support for the short term at DJ17, 600 or more precisely at DJ17, 579 March low. The S&P and NASDAQ Composite dis the same at SP2, 040 and 4,825. The next important resistance for DJIA is DJ18, 054 which is the 2014 closing high and for S&P is SP2, 093 the 2014 high.

There is a range for the short term DJ17, 579-18,289. This support is very important for the market direction and should attract buyers. The consolidation range after the up move in October, November and December is DJ16, 990-18,279 which is bullish and constructive barring a breakdown of DJ16, 990. DJIA risk a long correction below this level. If the support at DJ17, 579 is broken, we should be prepared for a possible correction of the market.

According to the technical analysis the trend is up and the panorama is bullish.

Please click over the chart to enlarge it

  Fundamentals:
 I have commented that the interest rate increase is going to be done in September 2015 as earliest. The majority of economist and analyst expect it for June. The unemployment figures of last Friday weight on my expectations about the interest rates. We need the confirmation or the correction of these figures. The earnings season for the first 2015 trimester begins unofficially this Wednesday with Alcoa results after markets.

Dear traders and investors, the corporate earnings of the first 2015 trimester are going to drive the market. I don’t think that the market needs spectacular earnings to maintain optimistic with the stock market but they should be positive. I expect earnings below the 2014 first trimester figures                   Good luck, viel Glueck, buona fortuna, buena suerte, bonne chance!
Ulises