Editorial

 

Les indices sont « toppish ». Sur une base hebdomadaire, une résistance majeure est proche. La détérioration des cours ne devrait pas se produire avant la mi-juin.

 

 

 

Indice S& P 500.

 

 

Le texte suivant est traduisible à l’aide de Yahoo Babel Fish

 

Long term basis: Quarterly bearish divergence with our MACD

On a yearly basis, a bullish parallels pattern is in progress.

On a quarterly basis, the dynamic for our 7 – 23 moving averages is up. Since the end of March 08 a bearish divergence is the status for our MACD. This is the status for our stochastic since December 2007.  LQ (980) could be a target if MQ (1264) fails as a support.

On a monthly basis; the status for our stochastic and MACD is a bearish divergence. Our first objective is LM (1311). The spread UM / LM is not minimal but not so important.

Idea:  as long as MM (1432) = resistance, a bearish pre-parallels pattern could develop.

 

Medium term: UW (1428) = main resistance

On a weekly basis, Bollinger bands spread is wide. With our 7 / 2 3 weeks moving averages, a bearish B type crossover is in progress. Next week, our stochastic and MACD could be overbought. If UW (1428, end of a week) proves to be a resistance, MW (1358) will be our next objective.

Idea: overbought status for our stochastic = end of the recovery.

 

Short term: below LD but not yet bearish

On a daily basis, the spread UD / LD is minimal. Stochastic and MACD are overbought. A bearish A type crossover is expected with our 7 / 23 days moving averages. Wit a close below LD, Bollinger bands spread will increase.

Idea: With the weekly status, it’s too early to go short.

 

Conclusion: a bearish non-crossover for our monthly stochastic could develop.