Indices, May forecasts always in progress: buy S&P sell CAC

Long term basis: rise above MQ (at the close)

On a yearly basis, the status for our MACD is a bearish divergence. Furthermore, our MACD and stochastic are overbought at the same period. As long as our M7 is up, the main pattern is always a bullish parallel one. Below MY, a collapse could develop.

On a quarterly basis, a bearish A type crossover is in progress with our 7 / 23 quarters moving averages (a bearish no-crossover is not ruled out in 2011). MQ acts as a resistance. A bullish no-crossover is in progress with our stochastic. As long as MQ / UM proves to be a resistance, the rise in progress is only a technical recovery.

On a monthly basis, Bollinger bands spread is wide. The status for our 7 / 23 months moving is a weak bullish no-crossover. A bullish no-crossover is the status for our MACD. UM is our main target.

Idea: not bullish as long as MQ proves to be a resistance at the close

Bet: towards MQ (1210) if UM fails as a resistance (at the close).

R = PM (1196), UM (1256), +;    S = MM (1041), LM (827).

 

Medium term: UW / LW spread is expending

On a weekly basis, the status for our 7 / 23 weeks moving averages is a bullish A type crossover. The status in progress for our stochastic is a bullish no-crossover. PM is our first objective.

Idea: higher for some weeks

Bet: above PM

 

R = PM (1196);    S= MW (1105)

 

Short term: rise

On a daily basis, as long as M23 is up, a decline could be only a technical move. Below MD, LD is our next objective.

Idea: MD is a strong support

Bet: higher next week

 

R = PM (1196);                   S= MD (1160), LD (1132)

 

Conclusion:  recovery in progress towards MQ (1210).

 

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