Long term: a technical correction is not ruled out

On a yearly basis: a type II is in progress. LY could continue to decline with a bullish T9. This PEI is the strongest that we know. Expect to use Dow Jones 1980 / 2000 bull trend as a benchmark.

On a quarterly basis, a bullish parallel pattern is in progress. A bearish no-crossover is in progress with our stochastic. MACD is overbought.

On a monthly basis, the bullish parallel pattern is over since May 2012. A bearish no-crossover is the status of our MACD.

Idea: end of the bull trend if MQ fails as a support

Bet:  LM is our first target.

R= UM (1799);    S= LM (1534), MQ (1301)

Medium term: neutral

On a weekly basis, Bollinger Bands spread is a reference one. TAM tools are up and down.

Idea: use our stochastic as a leading indicator

Bet: within two weeks, a main trend could emerge.

R= MW (1715);   S= LW (1639)

Short term: without main trend

On a daily basis, a bullish no-crossover is the status for our stochastic and MACD.

Idea: use our stochastic as a leading indicator

Bet: our stochastic and MACD could be overbought tomorrow.

R= UD (1680.5);   S= MD (1662.3), LD (1644.1)

Conclusion: wait.