DJ Resistance: 26,315 New all-time high
DJ Support: 26,200
25,904
25,819.10
25,700
25,440
25,412 20 Days moving average
25,112
24,876 2017 peak
24,715.90 Strong, support of old range
24,574 50 Days moving average
24,500
24,100
23,950
23,600
23,500 Gap upside
23,480 Gap downside
23,250 Strong
23,174
23,002 Strong, gap
22,890
22,795
22,493 200 Days moving average
22,420 Strong, breakout
22,119
22,000
21,912
21,600
21,535 July peak
Technical Analysis:
The three indexes have gotten new highs and this movement shows continuation. It is supported by the charts although the indexes are in uncharted territory.
The trend will continue to the upside barring a violation of DJ25,904 support.
Consolidation range DJ25,904 - 26,315. In the short term support at DJ25,904 is very important.
Please click over the chart to enlarge it.
Fundamentals:
I read on the news about Ray Dalio Tuesday's interview on CNBC.... "If you are holding cash, you are going to feel pretty stupid" and ..."we are in the Goldilocks period right now. Inflation is not a problem. Growth is good, everything is pretty good with a big jolt of stimulation coming from changes in tax laws......" He expressed optimism on the global economy backdrop.
The stock market is doing continues new highs and this is the trend for 2018 based on the economy and the corporate earnings after the tax cut laws, the consumers also weight a lot.
The three weeks truce in the Congress is positive for the markets and we expect a final agreement.
The IMF commented raising their projections growth for the global economy and the U.S.A. This new is playing in the market.
Dear traders and investors, I expect a wonderful 2018 for the stock market, I hope the geopolitical is not going to play against. We are in earnings season and I expect new highs in the three indexes DJIA, S&P and NASDAQ Composite.
Good luck, viel Glueck, buona fortuna, buena suerte, bonne chance!
Ulises
Stock focus will be ARVIND,DABUR,ESCORT,EXIDE,ICICIBANK,IIFL,JSWSTEEL,KAJARIACER,L&T,NTPC,PVR,RELINFRA,VEDL,VRLLOGISTIC, among others which will announce their December 2017 quarter earnings report today.
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