S&P at important resistance retest

DJ Resistance:  22,179.11 All-time high
                           22,000
                           21,912
                           21,900      20 Days moving average
                         
DJ Support:      21,840
                           21,770
                           21,687      50 Days moving average
                           21,682      July peak
                           21,600
                           21,535      June peak
                           21,200
                           21,115      Strong breakout
                           20,980
                           20,800
                           20,700      200 Days moving average
                           20,590
                           20,400      Very strong
                           20,125      January peak
                           19,732
                           19,678      January low

Technical Analysis:
DJIA is the strongest index between the three. DJIA has established a consolidation range DJ21,600 - 22,179.11 and has maintained over DJ21,682 strong breakout and July peak.
S&P is facing important resistance at SP2,453, it was a major support. The bulls need S&P to overcome this level to recover from the damaged chart. S&P supports are at SP2,437 and SP2,417, SP2,405 is a very important support below it the market could get a correction.
Considering August downturn and the consolidation phase we can consider that the uptrend is still in place.

Please click over the charts to enlarge them.

Fundamentals:
Geopolitical, especially North Korea, are playing in this summer doldrums and the stock market got a downturn during August.
Economy is looking well. This week we have two important facts for the stocks, first is Mr. Trump's speech about tax cuts, every investor and individuals have to assess how it affects them. Secondly, the market is going to receive important economic reports like ISM Services, ISM Manufacturing, Government Employment Situation and Personal Income, GDP update.
The most relevant should be the tax cuts because lower corporate taxes mean better corporate earnings then better stock prices, higher dividends, more money in the consumers' hands and better corporate sales and consumption.

Dear traders and investors, the tax argument is more important as incentive for the stock market but both are necessary to visit SP2,500.  

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