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miércoles, 24 de enero de 2018

The trend is bullish

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           

1 comentario:

  1. 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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