Long term: in early October, 6 months forecast

On a yearly basis, Bollinger band spread is not minimal and will stay at the same level for some periods. Our 7 / 23 years moving averages will be without main trend. With an overbought status for our stochastic (early 2011), 1.164 (2005 low) is the first objective and LY is the next one.

On a quarterly basis, the status for our stochastic and MACD is a bearish no-crossover. Next pattern for our 7 / 23 quarters moving averages could be a bearish A type crossover or a bullish no-crossover if MQ / MM fails as a resistance.

On a monthly basis, the UM / LM spread is far away from its minimal level. A bearish A type crossover is the status for our 7 / 23 months moving averages as long as MM proves to be a resistance. A bearish no-crossover could be the status for our stochastic and MACD. LQ will be our first objective. Above MM, an overbought status will be in progress for our stochastic and MACD. PM will be our next objective.

Idea: focus on stochastic status early next month

Bet: in early October we will have the trend until March 2011

R = MM (1.3624), PM (1.4222), UM (1.516);    S= LM (1.2087), LQ (1.159), LY (.9181)

 

Medium term: like a bullish parallel pattern

On a weekly basis, PW acted as a support. A bullish no-crossover is in progress with our stochastic and MACD. MM is our first resistance. Above this level, a bullish parallel will be in progress.

Idea: within 3 weeks a bullish A type crossover is expected with our 7 / 23 weeks moving averages

Bet: LW trend will be significant.

R = MM (1.3255);     S = PW (1.2644)

  

Short term: UD / LD spread is increasing

On a daily basis, a recovery is in progress as long as our MACD is not overbought.

Idea: end of recovery below MD

Bet: rise for two weeks or more

R = UW (1.3324);   S = MD (1.2872)

 

Conclusion: medium / long term trend in early October.