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 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 but the status for our MACD is a NEI.

Idea: towards LM if MM fails as a support

Bet: a NEI could be the status for our monthly stochastic

R= rise > 2 years, +++ (could be above 5 000);    S= MM (1527.6), MQ (1123), LM (1198.4)

Medium term: flat

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

Idea: towards LW with an overbought status for our MACD

Bet: rise as long as MW proves to be a support.

R= UW (1788.9);   S= MW (1683.4), LW (1578).

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= UD (1730.1);   S= MD (1680.4), LD (1630.7).

Conclusion: trading range on a medium term basis.