Long term basis: Yearly bearish divergence with our stochastic and MACD => 500 as a first target

On a yearly basis, the status for our MACD is a bearish divergence. Furthermore, our MACD and stochastic are overbought at the same period: a sharp decline is expected. The collapse in progress could amplify. 500 and LY are our next supports.

On a quarterly basis, Bollinger bands spread increase. The dynamic for our 7 quarters moving average is strong and will increase for 3 periods or more. A bearish A type crossover is in progress with our 7 / 23 quarters moving averages (in 2002, the crossover was a bearish B type). Before next Q1, with a bearish non-crossover for our stochastic a collapse towards LY is expected. On a monthly basis; a bearish parallel pattern is in progress as long as MM proves to be a resistance (end of period).

Idea: a yearly bearish divergence is the status for our stochastic and MACD. The correction of the XX century bullish trend is in progress => bear trend for one decade or more.

R = below MM (1065.3);    S = LW (844.13), 666 (current low), 500, LY (186)

Medium term: like a bullish pre-parallel pattern in June 09

On a weekly basis, Bollinger band spread is not minimal. A weak bullish non-crossover is in progress with our 7 / 23 weeks moving averages. Next week, this status will be the same for our stochastic and MACD. As long as MW acts as a support, the recovery in progress could continue or amplify towards or above MM.

Idea: towards LW if MW fails as a support 

R = MM (1065.3);    S= MW (947), LW (844)

Short term: Bollinger bands spread is minimal

On a daily basis, Bollinger bands spread is minimal. A bullish non-crossover is the status for our 7 / 23 days moving averages. With a new rise next Wednesday a bull move will develop. As long as LD proves to be a support, a decline is only a technical correction.

Idea: focus on Wednesday trend.

R = MM (1065.3, at the close) ;       S= LD (982)

Conclusion: as long as MM (1065.3) proves to be a resistance at the close, the rise in progress is only a technical rally in a long term (year (s)) bear market.