DJ Resistance: 26,616.71 All-time high
26,000
25,835.35 March high
25,402 Mayor resistance
DJ Support: 25,086 May high
24,945
24,876 2017 high
24,744 50 Days moving average
24,719 2017 close
24,579 20 Days moving average
24,451 200 Days moving average
24,280
24,000 Strong
23,500
23,250 Strong, gap
23,173
23,002 Strong, gap
22,890
22,795
22,420 Strong, breakout
22,119
21,912
21,600
21,535
Technical Analysis:
July is a positive month for the stocks. NASDAQ Composite got a new all-time high. S&P is attacking a mayor resistance SP2,802. Dow Jones is approaching a mayor resistance at DJ25,402. DJIA is the weakest index between the three.
DJIA has exceeded the resistance at DJ25,000 and has closed successfully over it in the last three sessions.
DJIA also is closing over 20, 50 and 200 days moving average. This is positive and confirm the direction of the trend.
In the intermediate and long term, the trend is bullish-leaning. The third trimester has begun with the bulls in charge.
Please click over the chart to enlarge it.
Fundamentals:
Tariffs are weighting on the market; trade war fears are in the air. It would be higher prices for the internal consumption in the U.S.A. This country is the only one in the world that could live isolated from the rest of the world.
Earnings season begins officially this Wednesday with Alcoa, it will be after the market closes. The main focus will be on second quarter's earnings season.
Do not forget the growing corporate earnings, the rising and strengthening economy and the excellent employment figures.
Dear traders and investors, today's story is short because we could be in front of a Summer rally due earnings season's expectations. The market looks ballast for higher stock prices. Let's see it!
Good luck, viel Glueck, buona fortuna, buena suerte, bonne chance!
Ulises
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