DJ18,016 Mayor Resistance

DJ Resistance:  18,351      All-time high
                           18,206      Breakout
                           18,171      April peak
                           18,104      2014 peak
                           18,096      2016 peak
                           18,016      June peak

DJ Support:      17,780      50 Days moving average
                           17,579      August inflection point
                           17,433      May closing low
                           17,425      2015 Low
                           17,256      200 Days moving average
                           17,125      Very strong
                           16,933.43 Strong September 2015 high
                           16,667      Inflection point
                           16,520
                           16,200      Light
                           15,980      Very strong
                           15,450      Strong
                           15,371.33 Very strong 2015 low

Technical Analysis:
Impressive the bounce up from DJ17,125 to DJ18,000 area. It did almost 900 points equivalent to 5.9% in four days. The index was stopped in a strong technical resistance zone approximately DJ18,016.
DJIA has supports at DJ17,780, and the strong one DJ17,579. For the S&P the supports are SP2,020 and 2,040.
The price action is very constructive to the upside especially the close over DJ17,579.
I expect a consolidation in this area waiting for the coming earnings season although the overbought momentum.
The selling volume at DJ18,000 and S&P below SP2,120 is to pay attention.
DJIA and S&P are bullish-leaning as they sleep over DJ17,579 and SP2,040.

Please click over the chart to enlarge it.

 Fundamentals:
ISM Manufacturing came last week better than expected at 53.2 driving the indexes to the mayor resistance opening the expectations to visit the all-time high, it was touched almost thirteen months ago. ISM Services is coming this Wednesday and unemployment rate with non-farm payroll of June this Friday. May added only 39,000 when expectations were 200,000. Those economic news and the earnings season would bring the opportunity to visit the all-time highs and to break up them. If the economic news are negative, the market would put a temporary ceiling in those resistances and it will trade in a range for a while.
Brexit brought uncertainty and it will affect the financial markets. There are a lot of question that look for answers. We can consider some almost sure facts like:
Low interest rates, U.S.A. will be the receptor of capital and money flows, European stocks would stay shaking, finally banks and financials may have harsh days in front of them due the low interest rates that makes not easy to them to win money. In addition the British pound continues falling.
Dear traders and investors, the Brexit bounce is giving some profit taking globally. That is normal and it reflects that investors are not sure about new highs. The economic data will clear all the bull and bear doubts.

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