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 2012. 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 is in progress. 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 but the status for our stochastic and the MACD is a NEI.

Idea: towards MQ if MM fails as a support

Bet: with the current SAR status, MM is our main target.

R= rise > 2 years, +++ (could be above 5 000);    S= PQ (1389.7), MM (1548.4), MQ (1172)

Medium term: weak

On a weekly basis, UW / LW spread is a reference one. No bullish PEI is in progress.

Idea: towards LW as long as MW = resistance

Bet: MACD status as a reference.

R= MW (1675), UW (1779);   S= LW (157M).

Short term: trading range

On a daily basis, our stochastic and MACD are oversold and M23 trend is down.

Idea: UD is our first resistance

Bet: higher as long as our MACD is not overbought.

R= MD (1655), UD (1685);   S= LD (1624).

Conclusion: trading range on a medium term basis.