Still Bullish

DJ Resistance:  18,622      All-time high
                           18,554

DJ Support:      18,470      Important
                           18,420
                           18,351      Old all-time high
                           18,171      April peak
                           18,104      2014 peak
                           18,016      Strong breakout
                           18,886      50 Days moving average
                           17,700
                           17,579      August inflection point
                           17,433      June low
                           17,402      220 Days moving average
                           17,125      Very strong
                           16,933.43 Strong September high
                           16,667      Inflection point
                           16,520
                           15,980      Strong
                           15,450      Strong
                           15,371.33 Very strong 2015 low

Technical Analysis:
The July breakout DJ18,351 (old all-time high) remains as very important support and DJIA stays over it after the breakout.
DJIA supports in the near term are DJ18,420, 18,351, 18,171 (April peak) and 18,016.
DJIA and S&P remain in an uncharted territory and the pull-backs should have been seeing as opportunities to buy stocks.
The sharp breakout in DJIA and S&P and the very light pulls back put the indexes in a bullish bias.

Please click over the chart to enlarge it.

Fundamentals:
This week and next are plenty of important economic news like durable goods order, pending home sale, FOMC announcement, gross domestic product, Chicago PMI, consumer sentiment, etc. besides the corporate earnings.
FOMC is expected to maintain the rates but that drives the market until 2 p.m.
Economic news are mixed and more inclined to the positive side. Corporate earnings are not the best but we are getting some good surprises. The restaurant industry seems to be to big changes or depressing. McDonald figures fired the alarm dropping down 4.5% on Monday. Regularly the restaurant industry recession is the harbinger of a large move but it is too early, we need more sales information.
The momentum is for new all-time high. The market is consolidating what it has won as I explained last week. During the next 10 days we could see a new all-time high fueled by positive news and earnings.
Dear traders and investors, not much to say because we are in a small period of time, 10 days, where the market will try to consolidate and visit new highs fueled by psychological momentum and the corporate results. That is before the summer doldrums.

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