Long term basis: MM as a resistance?

On a yearly basis, the status for our stochastic is overbought.

On a quarterly basis, Bollinger bands are flat. The dynamic for our 7 quarters moving average will continue for the next period or more. A bullish A type crossover could develop at the end of 2010. With a bearish non-crossover (in early January 2010) as a status for our stochastic a collapse towards LQ is expected. Otherwise, a recovery towards MQ or UM could develop.

On a monthly basis; a bearish parallel pattern is over since a close above MM occurred (but we are cautious with the turn over for CAC 40 components). With our 7 / 23 months moving averages, a bullish B type crossover could develop within 3 months.

Idea: with a current close above MM, MQ could be our next target.

R = MM (3672, end of month), MQ (4542);    S = MW (3636), LW (3276)

Medium term: bearish no-crossover with PW

On a weekly basis, Bollinger Bands spread is thin. PW acted as a resistance and last week low failed as a support. A bearish non-crossover is in progress with our stochastic and our MACD. With this hypothesis, LW will be our main objective.

Idea: technical correction as long as M23 trend is up.

R = PW (3871)               S= MW (3636), LW (3276)       

Short term: UD / LD spread is not minimal.

On a daily basis, UD / LD spread is not minimal. With a close below MD, LD is our next target.

Idea: nothing to do next week.

R = MD (3752);     S= LD (3600)

Conclusion: towards LW if MW fails as a support (at the close).