DJ Support: 26,760 September peak
26,616 January peak
26,312 20 Days moving average
26,168 August peak
26,000 Strong
25,908 50 Days moving average
25,835.35 February high
25,732
25,600
25,082 200 Moving average
24,742
24,000
23,500 Strong
23,250 Very strong
23,173 Strong, upside gap
23,002 Strong, downside gap
Technical Analysis:
Dow Jones did a new all-time high and S&P is within striking distance to do the same. NASDAQ Composite is alike.
Start October, the beginning of the four quarter, shows a bullish trend looking for unknown territories. The near-term inflection point is DJ26,616 January peak. The third week September gap was filled with the DJIA rally promising new all-time highs.
DJIA 20, 50- and 200-days moving average are crossed pointing to the upside which is very bullish and they should give to DJIA good support in the case of retracement. DJIA is behaving technically. The price action is constructive.
The trend of the three benchmark is bullish.
Please click over the chart to enlarge it.
Fundamentals:
What a monthly, October, and fourth 2018 quarter start!
What we have seen these two last days is very bullish. This last up move is based in the fabulous economy. We see the historic level of employment, the growth of the economy, fantastic consumer confidence and therefore the corporate earnings with the promise for better results in the future. All these in spite of the trade war uncertainty. Thanks God the TLC was restructured and reconfirmed.
The growth of the economy is accelerating to 3.1% in 2018 after year of 1.5%. It is almost the double.
The Tax cut and deregulation taken by President Trump is rejuvenating the U.S.A. economy.
Dear traders and investors, this bull market have 12 years long, it is a record but this time the promise is "the best is yet to come".
Good luck, viel Glueck, buona fortuna, buena suerte, bonne chance!
Ulises
No hay comentarios:
Publicar un comentario