Long term basis: not yet bullish

On a yearly basis, stochastic and MACD could continue to be overbought. The rise in progress is only a technical recovery.

On a quarterly basis, LQ / UQ spread is shrinking. Our stochastic and MACD are oversold. Our moving averages are neutral.

On a monthly basis, a type B is the status for our moving averages.

Idea: monthly stochastic is our leading indicator

Bet: UM is a strong resistance (end of period).

R= UM (3661), 4169 (Feb 2011 high);    S= MM (3373)

Medium term: weak

On a weekly basis, our stochastic and MACD are overbought.

Idea: MACD is our leading indicator

Bet: towards LW if PW fails as a support.

R= UW (3862);               S= PW (3646), LW (3519).

Short term: lower

On a daily basis, UD / LD spread is a reference one. A PEI is the status for our MACD.

Idea: use our MACD as a leading indicator

Bet: too early for a sell-off

R= MW (3792);     S= PW (3646)

Conclusion: As long as PD proves to be a resistance, PW could fail as a support.

Warning: see (one more time)  03/04 article and atdmfcahen@yahoo.fr for explanations