Yearly trend: higher 

On a yearly basis, the pattern in progress looks like a bubble pattern. The current status for our MACD is a bullish no-crossover. Our 7 / 23 years moving averages are always on a bull trend.

Idea: LY is flat below 75 and down above 80

Bet: 87.15 (2010 high) is a far away strong resistance

 

Long term: a bearish no-crossover status for our quarterly stochastic and MACD could develop

On a quarterly basis, the spread UQ / LQ is maximal. With our 7 / 23 quarters moving averages, a bullish pseudo no-crossover could develop this year. A bearish no-crossover could be the status for our stochastic and for our MACD at the end of the period. With this hypothesis, LQ will be our main target.

On a monthly basis, the spread UM / LM is shrinking but is far away from its minimal level. Our MACD could be overbought next month. As long as PM proves to be a support, a recovery could develop. Otherwise, LM will be our next objective.

Idea: main trend in early October

Bet: 82.97 (August high) is a strong resistance

R= 82.97, UM (92.73);    S= PM (63.11), LM (47.54)

 

Medium term: technical recovery

On a weekly basis, the spread UW / LW is shrinking and not minimal. With our 7 / 23 weekly moving averages, a bearish no-crossover is in progress. Below MW, LW is our main target.

Idea: recovery as long as MW proves to be a support

Bet: nothing to do this week

R = UW (80.55);     S = MW (75.48), LW (70.41)

 

Short term: rise in progress

On a daily basis, UD / LD spread is expending. A bullish A type crossover will be the status for our 7 / 23 days moving averages. As long as our MACD is not overbought, the rise in progress will continue.

Idea: towards UW

Bet: choppy

R = UW (80.55);          S = MD (74.23)

 

Conclusion: no clear trend within a month.