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 MY. The dynamic for each band is very strong. PY will cross MY in more than one period. On a Historical basis, one of the most bullish patterns ever seen (since the end of XIX century).
Idea: bullish no-crossover for our stochastic.
Bet: S&P 500 in the 80 as a benchmark.
Long term: quarterly bullish parallel pattern
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 is a bullish no-crossover.
On a monthly basis, our 7 / 23 months moving averages are up with a bullish no-crossover in progress. A bearish divergence is in progress with our stochastic. Same status is not ruled out for our MACD. But a bullish no-crossover could develop too. As long as a bullish no-crossover could emerge as a status for our MACD, MM is a strong support.
Idea: as long as monthly M23 is up, a monthly decline is “only” a technical move
Bet: MM will act as a support.
R = rise > 2 years, +++ (could be above 2 000); S = MM (956.54)
Medium term: without trend
On a weekly basis, Bollinger bands spread is minimal. A bullish no-crossover is the status for our moving averages. But a bearish no-crossover is in progress with our MACD.
Idea: Bollinger bands are our main targets.
Bet: our MACD will be oversold soon.
R = UW (1167.3); S = LW (1063.8)
Short term: soon, Bollinger Bands spread could be at its minimal level
On a daily basis; as long as our 23 days moving averages is up, LD could act as a support. With the weekly trend, no bearish pattern could emerge.
Idea: UD as a target if MD fails as a resistance
Bet: none.
R = MD (1113.9), UD (1140.2) S = LD (1087.6)
Conclusion: nothing to do on a medium term basis.