4th. Quarter Bullish

DJ Resistance:  22,646.32   All-time high
                         
DJ Support:      22,420       Breakout
                           22,220
                           22,119       Old-time close & breakout
                           22,010       50 Days moving average
                           22,000
                           21,912
                           21,682       July peak
                           21,600       Strong
                           21,535      June peak
                           21,200
                           21,115       Strong
                           21,018       200 Days moving average
                           20,800
                           20,590
                           20,400       Strong
                           20,125       January peak
                           19,732
                           19,678       January low

Technical Analysis:
Stock market got new all-time highs. The three indexes are in new territories showing a clear bull trend.
First support are at DJ22,420 and 22,220, and SP2,520 and 2,506. DJIA and S&P have passed first objective DJ22,550 and SP2,500. Next targets are SP2,550 and DJ22,750. The indexes have extended to the fourth Quarter its bull trend. This strong beginning of the Quarter promises the accomplishment of this year's target. We don't know where the limits in the new territory are only where the targets are.
The trend is bullish-leaning in the midterm barring a violation.

Please click over the charts to enlarge them.

Fundamentals:    
We are getting positive news about the economy like PMI Manufacturing Index to 53.1 and ISM Manufacturing Index to 60.8 best reading in more than 10 years. Construction spending has beaten expectations. Vehicle sales impressive 18.1 million units sold from September 2016 to September 2017, expectations were 16.7 million. Redbook retail sales increased 4.1% in year to year basis.
Southeast and Puerto Rico demand after hurricanes spur the demand of goods which is essential for the economic growth. The economy is not only doing well due the hurricanes the U.S. economy is in good shape and the current and the future demand are driving the stocks to higher prices due the better corporate sales and more activity in their different fields of avocation. It should continue the uptrend of the stock market in the time to come.

Dear traders and investors, the economy is growing, consumption is in good shape and promising to be stronger, the interest rates are increasing in a controlled path,  and then the best place to be is in the stock market in these times. We are near to our targets for the end of the year and it seems that the quarter star is strong.

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