Dow Jones & S&P formed a triangle

DJ Resistance:  26,616.71  All-time high
                           26,000
                           25,800.35
                           25,500
                           25,309       50 Days moving average
                         
DJ Support:      24,876       2017 peak
                           24,719       2017 close
                           24,715.19  Support of old range
                           24,500
                           24,100
                           23,950
                           23,600
                           23,500       Gap upside
                           23,480       Gap downside
                           23,250       Strong
                           23,174
                           23,089       200 Days moving average
                           23,002       Strong, Gap
                           22,890
                           22,795
                           22,420       Strong, breakout
                           22,119
                           22,000
                           21,912
                           21,600
                           21,535       July peak

Technical Analysis:
The 2017 peak area has acted as support for DJIA and S&P. It has been reconfirmed as a strong support.
The range DJ24,719 (2017 close) and 24,876 (2017 peak) is the strong support for DJIA. The 50 days moving average at DJ25,245 was violated and now is acting as resistance at DJ25,309.
March start is volatile, DJIA and S&P have survived the test of the support at the 2017 peak and close.
A triangle is forming on the daily chart.
We conclude that the charts are irregular and the recovery attempt is still in the charts. The trend continues to be bullish although the last corrections.

Please click over the chart to enlarge it.

Fundamentals:
Some Trump's decisions are creating uncertainties in the financial markets. Uncertainty is terrible for these markets but that passed because what actually counts is the fundamental strength: economy and earnings.
Q4 earnings season was excellent, 2017 PBI growth was 2.5% and expectations for 2018 are 3% or more and it would be the best from 2005. FED Chairman Jerome Powell is enthusiastic around the U.S. economy in my opinion that explains what he mentioned about a possible 4th. rate hike in 2018. This backdrop puts us on the brilliant path.
Consumer Confidence index is at 130 from 2000 is the highest level. Consumer spending maintains a solid pace.
Certainly all of this boost a healthy economy. As I have explained the market is basing before the next leg up. This new base has to be solid and has have digested all the doubts about the spectacular market hike of 2017. My question is if DJ23,250 almost the low of this correction is the low boundary. In my opinion yes but we have to confirm it. I find the S&P well supported right now at SP2,700. This backdrop puts us on a brilliant path.

Dear traders and investors, I am still optimistic with the stock market and I think that the strategy is to continue to buy on the dips.

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