Bull Trend

DJ Resistance:  26,616.71  All-time high
                           26,000
                           25,835.35  February high
                           25,000

DJ Support:      25,402
                           25,086       May high
                           24,989       20 Days moving average
                           24,945
                           24,902       50 Days moving average
                           24,876       2017 High
                           24,819       200 Days moving high
                           24,719       2017 Close
                           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:
DJIA has higher lows from April's low. Same picture has S&P 500. That is bullish.
Both indexes are over 20, 50 and 200 days moving average and those moving averages are pointing up in their natural positions let's say first 20, second 50 and third 200 days. They clean the field for the bulls.
The first six months of the year had DJIA and S&P indexes in a range. NASDAQ Composite got a new all-time high.
The important DJIA support DJ 23,250 was fought in the last semester by the bears twice getting the low at DJ23,344. The support worked well.
The consolidation range for the semester is DJ 23,250 - 26,616.71. The short-term consolidation range is DJ24,000 - 25,835.35.
S&P support at SP2,802.
The trend is bullish-leaning.

Please click over the chart to enlarge it.

Fundamentals:
The markets continue with their ups and down but showing resilience. In summary they go up step by step.
U.S.A. and EU reached an agreement on trade. Zero tariffs on non-automotive industrial goods are the goal, steel and aluminum the same. They also agreed to reduce tariffs on cars. U.S.A., Mexico and Canada are working on the same way. China tries to collaborate and avoid a trade war. Intentions are not an agreement signed but show the goals. Nobody in the world wants a trade war.
We are in earnings season and after three or four weeks in this process it is normally to take profits. This season is very positive notwithstanding Twitter and Facebook.
The economy also is doing well, GDP grew up 4.1%. The markets are receiving promising news like Consumer Confidence raised at 127.4 from last month 126. Also, employment is in an excellent position near its record. Redbook, retail sales, showed same stores sales are growing at 4.2% , up from last month pace 3.8%. Chicago Purchasing Manager Index 65.5 from last month 64.1. Personal Income grew 0.4% like Personal Spending up 0.4%.
The markets are ready for new earnings reports today. FOMC Meeting Announcement today at 2 P.M., Fed is expected to keep rates steady and employment figures this coming Friday.
The markets expect two more rates hike this year.

Dear traders and investors, positive news from the markets and the economy outweigh the negatives. The strong economy is decisive for the consumers and therefore for the corporations. I expect a surge in the stock market this second semester of 2017.

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