DJ Support: 19,225
19,150
19,055
18,920 Strong
18,800
18,668 Old all-time high
18,470 Strong & 50 days MA
18,030 200 Days moving average
17,995 Strong
17,888.23 November low
Technical Analysis:
DJIA, the strongest index, got new all-time high on Monday DJ19,275, its natural target is DJ19,300 as I have indicated 2 or 3 weeks ago. Good support will be DJ19,150. Watch the index at resistances to calibrate the strength.
We can say that DJIA is in a rally mode and preparing itself for a possible Christmas Rally, then the trend is to the upside barring a brake out of supports.
Click over the chart to enlarge it.
Fundamentals:
S&P is ready for new all-time high, it didn't get like DJIA it because to the rotation looking for stock growth.
Next important economic new is Consumer Sentiment this coming Friday which should be positive and the almost sure rate increase by the FED on December 14th. The others are not relevant this week.
The market feels that the best place to invest the money is the stock market. I think the best would be a consolidation before to continue to new highs where the market will take profits. It would be shortly before SP2,280 and DJ19,500. But it seems the rally is in continuous mode.
Dear traders and investors, DJIA and S&P are looking for higher skies stay long stocks.
Good luck, viel Glueck, buona fortuna, buena suerte, bonne chance!
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