Long term: higher

On a yearly basis: Bands are expending and a PEI is in progress for each component of TAM tools. The up trend should continue for two periods or more.

On a quarterly basis, a bullish parallel pattern is in progress.

On a monthly basis, a type I is in progress.

Idea: use monthly bullish parallel rules

Bet:  Historical new high is not ruled out.

R= UM (138.15);    S= MM (129.1)

Medium term: lower

On a weekly basis, a close below LW is likely. UW is flat and our monthly moving averages are up.

Idea: use our MACD as a leading indicator

Bet: towards MM.

R= MW (133.47), UW (134.84);   S= MM (129.1)

Short term: T2?

On a daily basis, a T2could develop today if a type A is in progress with our moving averages. Bollinger bands spread is a “limit” reference one.

Idea:  with a T2, use it only for intraday trading

Bet:  sell-off below 131.7 (14/9 low).

R= MD (133.17);   S= 131.7.

Conclusion: bearish with a daily T4.