Long term basis: not yet bullish
On a yearly basis, stochastic and MACD could continue to be overbought. As long as MY (end of period) proves to be a resistance, the main trend is not bullish.
On a quarterly basis, LQ / UQ spread is shrinking. Our stochastic and MACD are oversold. Our moving averages trend is bearish.
On a monthly basis; for M23, the trend is bearish. Our stochastic and MACD are oversold.
Idea: monthly stochastic is our leading indicator
Bet: UM as a first resistance.
R= UM (3823), 4145 (Jan 2011 high); S= MM (3354)
Medium term: higher without bull trend.
On a weekly basis, a bullish no-crossover is the status for each TAM tool. A NEI is in progress with our monthly M23.
Idea: higher as long as our MACD is not overbought
Bet: towards UM is likely.
R= UM (3823); S= MW (3571).
Short term: technical correction
On a daily basis, our moving averages are up but our MACD is not oversold.
Idea: end of correction when our MACD will be oversold
Bet: nothing to do.
R= UD (3788); S= MD (3735), LD (3683).
Conclusion: if you want to add a long position, buy S&P 500.