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. A type II is expected at the end of 2013. On a global Historical basis, one of the most bullish pattern ever seen (since the end of XIX century).

Idea: focus on LY trend

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. A type I could develop at the end of March 2012. The dynamic for our 7 / 23 quarters moving averages is strong and continue thru 2013.

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

Idea: focus on MM.

Bet: towards 5 000 or above as long as no NEI will develop on a monthly basis.

R = rise > 2 years, +++ (could be above 5 000);    S = MM (1478.4), MQ (1122.8)

Medium term: technical recovery

On a weekly basis, UW / LW spread is shrinking. No PEI is in progress.

Idea: focus on PW trend

Bet: UW is our main objective.

R= UW (1787.5);   S = MW (1675.8), LW (1564.1)

Short term: higher

On a daily basis, no PEI is in progress on TAM tools. A NEI is in progress on the weekly time frame.

Idea: rise as long as our MACD is not overbought

Bet: towards UW.

R = UW (1787.5);   S = MD (1661.3).

Conclusion: bullish on a long term basis.