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miércoles, 23 de septiembre de 2015

Long term bearish?

DJ resistance:  18,351     All-time high
                          18,206     Breakout
                          18,104     2014 peak
                          17,810     Important
                          17,579     Very important
                          17,050     Very strong
                          16,667     Upper side of the range
                          16,210     Light
                          15,980     Lower side of the range
                          15,651     Important
                          15,370     Very strong

Technical Analysis:
The trading range DJ15,980-16,667 is still in place in spite of the breakout attempt after the FED's policy decision and the bearish reversal.
If DJIA stays below DJ16,667, the bears could drive the market in a bearish direction. Bulls need to percolate the important resistance DJ 16,667 and sleep over DJ17,050 to get the opportunity for a bounce to try again DJIA over DJ18,000.
The DJIA like S&P backdrop are taking a bearish hue for the medium term barring the breakout the resistance DJ 16,667.
We are going to analyze the 10 Years monthly chart next week just before the September close. Until now, support is working.
Please, use the chart to navigate into the market, it is not easy.

Please, click over the chart to enlarge it.

Fundamentals:
The market is driven by interest rates raise and China economy. The Chinese President, Ji Xinping, visit to U.S.A. besides Pope's visit are going to dominate the domestic press about international news.
Important economic news are coming this week and next like U.S. PMI PSG Flash, Durable Goods, U.S. Consumer Sentiment, U.S. PMI Services Flash, U.S.Q2 GDP final revision. But they are not going to break the range DJ15,651-17,050., for that market needs the unemployment figures or the very important U.S. PMI Manufacturing that we are going to know in October.
Dear traders and Investors, I am worry because technically the market is showing a possible bearish shift in the medium term and maybe in the long run. Long term bull market is still supported but it is on the limit support, buyers should be drawn.

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

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