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 LY. PY could cross MY next period. A PEI is in progress with our stochastic. On a global Historical basis, one of the most bullish pattern ever seen (since the end of XIX century).
Idea: LY will continue to decline for two periods or more
Bet: S&P 500 rise in the 1986 / 2000 as a benchmark.
Long term: bullish parallel on a quarterly basis
On a quarterly basis, the pattern is a bullish parallel one. The dynamic for our 7 / 23 quarters moving averages is strong and continue thru 2013. A PEI is in progress with our MACD.
On a monthly basis, a type III is in progress.
Idea: use bullish parallel rules on a monthly basis
Bet: technical correction with an overbought status for our quarterly stochastic (EOQ).
R = rise > 2 years, +++ (should be above 2 000, 3 000 and +++); S = PM (1373.9)
Medium term: a type III could be in progress
On a weekly basis, next MACD status will give the trend for two or three months.
Idea: as long as M7 is up, up trend is a priority,
Bet: below PW, an overbought status for our MACD could develop.
R= 1577.01 (Historical High), +; S = PW (1471.5), MW (1432.6)
Short term: flat
On a daily basis, UD and LD are flat. TAM will continue to rise.
Idea: above PD, UD is our next objective
Bet: UD / LD spread is above a reference one.
R = PD (1529.8), UD (1550.4); S = PW (1471.5)
Conclusion: hold on old long position (medium / long term basis) as long as MW (1432.6) proves to be a support.