Dow Jones well supported

DJ Resistance:  21,169      All-time high
                           21,000
                           20,971      Monday's high

DJ Support:      20,901      Monday's low
                           20,850      Strong downside gap
                           20,743
                           20,640      Breakout point
                           20,600      Strong
                           20,200      50 Days moving average
                           20,125      Strong January peak
                           20,000      Very strong
                           19,800
                           19,732      Strong
                           19,678      January low
                           19,200     strong
                           19,090
                           18,800
                           18,668      Old all-time high
                           18,247      August low
                           18,000      Strong
                           17,833.23 November low
                           17,579      Inflection point
                           17,125      Very strong

Technical Analysis:
S&P and DJIA have retraced to the strong support. S&P filled the gap instead DJIA still has the gap opened, which is positive for both indexes. That means that the breakout is still valid.
DJ20,850 should be a strong support.
It seems that the doors for a consolidation phase are opened.
Technical analysis through the price action shows a strong uptrend which is bullish leaning.

Click over the chart to enlarge it.

Fundamentals:
S&P has won about 6% from January to March and almost 12% from elections. That figure was expected to be done during 2017. Why? It is explained by the U.S. Dollar appreciation due the imminent interest rates hike during 2017, expected Trump economic plan: higher infrastructure spending, lower taxes, deregulation, etc. Corporations are going to do good businesses and the consumption will be higher and sustained. The strong dollar, the U.S.A. economic perspectives and the slow growth in the European Union and Asia are bringing huge flows of money to the U.S.A. Part of that money goes to the stock market and bonds.
This Friday we are going to have the figures for unemployment and non-farm payroll, and next week FOMC is going to take place and decide about interest rates hike. These news will rule the market.
I have commented you in my prior blog actualization that most likely the market would enter in a period of consolidation once touched the targets DJ21,000 and S&P 2,400. The market achieved the goals.

Dear traders and investors, as I explained in a past blog 2nd. Quarter earnings season is coming in April and it would be fuel for the market. During March the market should enter in a consolidation period to mature the gains made at the end of last year and this year.