Long term basis: not yet bullish
On a yearly basis, the status for our stochastic is overbought. With our 7 / 23 years moving averages, a bearish B type crossover will develop before 2014. As long as MY (end of period) proves to be a support, the recovery could continue. Next supports are 2003 low and LY.
On a quarterly basis, LQ / UQ spread is maximal. MQ is our next objective. Above MQ, UQ is our next target.
On a monthly basis, Bollinger bands spread is minimal. With a NEI on the quarterly basis, as long as MM proves to be a support, UM is our maximal target. With a close below MM, May 2010 low is our first objective and LM is the next one.
Idea: MM is an easier target than MQ.
Bet: bearish divergence for our monthly stochastic?
R = MQ (4380); S = MM (3758), May 2010 low (3287), PM (3287), 2003 low (2401)
Medium term: decline below MW
On a weekly basis, with an overbought status for our stochastic and MAD, LW will be our next target if MW fails as a support.
Idea: as long as M23 is up, the move in progress is only a technical decline
Bet: decline as long as our MACD is not oversold.
R = MD (4065) S= MW (3927), LW (3698)
Short term: decline
On a daily basis, with a NEI on our weekly basis, the decline in progress is only a technical move.
Idea: lower as long as our MACD is not oversold
Bet: bearish with a pre-parallel pattern.
R = MD (4065); S= MW (3927), LW (3698)
Conclusion: MM could be an easier target than MQ.