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

On a yearly basis, a bullish parallels pattern was in progress. 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. Below 700, the collapse in progress will amplify. 500 and LY (180) 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 5 periods or more. A bearish A type crossover is in progress with our 7 / 23 quarters moving averages. 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.  The bear move is in progress for 3 quarters at least.

On a monthly basis; a bearish crossover PM / MM + increase of the dynamic for UM. A bearish A type crossover is in progress for our 7 / 23 months moving averages. The bear trend for our moving averages will increase until mid 2009 or +. The status for our stochastic and MACD is a bearish non-crossover. A bearish parallel pattern is in progress for some months (4 to 15?). Below 700, 500 and LY (180) are our next targets. 

Idea: use monthly bearish parallels rules.

R = MW (813); S = 700, 500, LY (180)

Medium term: decline (collapse?) as long as MW (867) = resistance

On a weekly basis, Bollinger bands spread is not minimal. For our 7 / 23 weeks moving averages a bearish non-crossover is in progress.  With an overbought status for our MACD (next Monday?), a collapse could develop.

Idea: with a new low below 740, 700 is next door (and 500 could be a target for the end of Q1).

R = MW (867);    S=  740, 700, 500

Short term: bearish without bearish ATDMF pattern

On a daily basis, Bollinger bands pattern is like a bearish parallel one (volatility was not minimal when a pseudo-T1 occurred. The bear trend for our 7 / 23 days moving averages will continue. The status for our stochastic is a bearish non-crossover. With a new low today, it will be the same status for our MACD.

Idea: with a bearish non-crossover as a status for our MACD, a collapse will develop.

R = MD (813);    S= 740, 700, 500

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Conclusion: monthly bearish parallel pattern in progress for some months.