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 the current period. 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. 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 (1474.6), MQ (1118)
Medium term: weak
On a weekly basis, a PEI is the status for MACD.
Idea: focus on PW trend
Bet: nothing to do.
R= MW (1695), PW (1733); S = 1522.66 (Current low)
Short term: trading range
On a daily basis, Bollinger bands spread is minimal. No PEI could develop with TAM tools.
Idea: UD = resistance
Bet: technical recovery.
R = UD (1636) S = MD (1596), LD (1555).
Conclusion: weak for some weeks.