DJ Support: 24,715.90
24,610 20 Days moving average
24,500
24,100
23,992 50 Days moving average
23,950
23,600
23,500 Gap upside
23,480 Gap downside
23,250 Strong
23,174 Gap
23,002 Strong, gap
22,890
22,795
22,420 Strong, breakout
22,119
22,101 200 Days moving average
22,000
21,912
21,600
21,535 July peak
21,115
20,800
20,590
20,400 Strong
20,125 January peak
20,732
20,672 January low
Technical Analysis:
2018 scenario is firmly bullish.
DJIA could not reach DJ25,000 with the small Christmas Rally in the last days of 2017 but has sustained the last 2017 technical rally breakout staying in the range DJ24,715.90-24,876.07.
The way to DJ25,000 is open and clear to be reached. In the last two weeks the range is about 150 points.
The November rally resembles the September rally and right now the last range seems to be in the same situation.
S&P has the same picture and it last range is only 21 points.
There is no selling pressure at the moment. The trend is bullish what means the stock prices should go up.
Please click over the chart to enlarge it.
Fundamentals:
Happy New Year!
DJIA didn't get DJ25,000 but it raised 28.11% and S&P21.83% during 2017.
The tax cut change the corporations rate from 35% to 21% and is putting more money on the consumers' hands. U.S. GDP is about 70% from the consumers.
We have to pay attention on January 19th. due the debt ceiling and not to stop the government activity.
The economy is doing well and consumers will demand more products and services.
Dear traders and investors, I am still bullish with the stock market, I think that 2018 is going to be an excellent year for the stocks. All the information that we can manage now show us an upside path. Hopefully the geopolitical problems will remain aside or they will be solved. I am ready to work for you as always.
Good luck, viel Glueck, buona fortuna, buena suerte, bonne chance!
Ulises
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