Yearly trend: in 2012 /2013, qualification in a new bullish parallel pattern
On a yearly basis, a bullish parallel pattern is in progress with a strong dynamic for LY. PY will cross MY in more than one period. On a Historical basis, one of the most bullish pattern ever seen (since the end of XIX century).
Idea: bullish no-crossover in progress for our stochastic
Bet: S&P 500 rise in the 95 / 2000 as a benchmark.
Long term: a new monthly bullish pattern qualification? wards LM (49.90ng as MQ (44.60
On a quarterly basis, the pattern is a bullish parallel one. The dynamic for our 7 / 23 quarters moving averages is strong. The status in progress for our MACD and our stochastic is a bullish no-crossover.
On a monthly basis, our 7 / 23 months moving averages are up with a bullish no-crossover in progress. If July low proves to be a support, a new parallel qualification could be in hand in early October after a PM / MM bullish crossover. Otherwise, MM could be a target. A bearish divergence is / could be the status for our stochastic. At the end of August; with an overbought status for our MACD, MM will be our main target.
Idea: qualification in a new parallel pattern or not, that is the question
Bet: MM as a target below 1155
R = rise > 2 years, +++ (should be above 2 000, 3 000???); S = 1155, MM (1051)
Medium term: out
On a weekly basis; last week, a close below MW occurred. The bullish parallel pattern is over. As long as our stochastic is not oversold, LW is our main target.
Idea: with Bollinger bands spread, LW is a strong support.
Bet: stabilization with a close above MW.
R = MW (1188), UW (1265) S = LW (1110)
Short term: decline
On a daily basis, Bollinger bands spread is not minimal. With MD trend, our MACD is our leading indicator.
Idea: decline as long as PD proves to be a resistance
Bet: UD as a target if PD fails as a resistance.
R = PD (1197), UD (1218); S = LD (1162)
Conclusion: very bullish by summer end if 1155 acts as a support.