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.

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= MM (1666);    S= LM (1534), PQ (1514), MQ (1301)

Medium term: lower without a bearish trend

On a weekly basis, Bollinger Bands spread is a reference one. A NEI is the status for our monthly moving averages.

Idea: use our MACD as a leading indicator

Bet: LW could fail as a support.

R= MW (1715);   S= LW (1638), LM (1538)

Short term: lower

On a daily basis, a bearish no-crossover is the status for our moving averages.

Idea: use our MACD as a leading indicator

Bet: our stochastic and MACD could be overbought tomorrow.

R= MD (1726.8), UD (1746.4);   S= LD (1707.1)

Conclusion: lower.

 

Long term: higher

On a yearly basis: a type II will be the status at the end of the period. Next year, LY should continue to decline (9 periods). Expect to use Dow Jones 1980 / 2000 bull trend as a benchmark.

On a quarterly basis, a bullish parallel pattern is in progress.

On a monthly basis, the bullish parallel pattern is over since May 2012.

Idea: use the monthly MACD as a leading indicator

Bet:  a technical correction is not ruled out for some months.

R= UM (1809);    S= MM (1662), PQ (1514)

Medium term: towards LW if MW fails as a support

On a weekly basis, Bollinger Bands spread is maximal. A PEI is the status for our stochastic and MACD.

Idea: LW as a target if MW fails as a support (at the close)

Bet: below MW.

R= PW (1777);   S= MW (1703.6), LW (1591.6)

Short term: bearish pre-parallel?

On a daily basis, Bollinger Bands spread is minimal. No PEI could develop with TAM tools. If LD proves to be a support and MD acts as a resistance, a bearish pre-parallel pattern could develop.

Idea: weak as long as MD= resistance

Bet: choppy next week.

R= MD (1726.8), UD (1746.4);   S= LD (1707.1)

Conclusion: wait.

Long term: higher

On a yearly basis: a type II will be the status at the end of the period. Next year, LY should continue to decline (9 periods). Expect to use Dow Jones 1980 / 2000 bull trend as a benchmark.

On a quarterly basis, a bullish parallel pattern is in progress.

On a monthly basis, the bullish parallel pattern is over since May 2012.

Idea: use the monthly MACD as a leading indicator (weak bearish no-crossover in progress)

Bet:  a technical correction is not ruled out for some months.

R= UM (1821);    S= MM (1636.7), PQ (1527.1)

Medium term: technical correction

On a weekly basis, our MACD is overbought.

Idea: use our weekly stochastic as a leading indicator

Bet: MW as a first target.

R= MD (1743.7);   S= MW (1670.5)

Short term: lower

On a daily basis, TAM tools are not up.

Idea: use our MACD as a leading indicator

Bet: the trend of SAR will give the strength of the move.

R= MD (1743.7);   S= MW (1670.5)

Conclusion: as long as MD= resistance, MW could be a target.

Long term: higher

On a yearly basis: a type II will be the status at the end of the period. Next year, LY should continue to decline (9 periods). Expect to use Dow Jones 1980 / 2000 bull trend as a benchmark.

On a quarterly basis, a bullish parallel pattern is in progress.

On a monthly basis, the bullish parallel pattern is over since May 2012.

Idea: use the monthly MACD as a leading indicator

Bet:  a technical correction is not ruled out for some months.

R= UM (1824.4);    S= MM (1637.7), PQ (1527.1)

Medium term: toppish

On a weekly basis, a rise developed with a NEI on the monthly time frame.

Idea: use our weekly MACD as a leading indicator

Bet: MW as a target with an overbought status for our MACD.

R= 1796;   S= MW (1660.3)

Short term: lower

On a daily basis, Bollinger Bands are expending with a NEI on the weekly time frame.

Idea: use our MACD as a leading indicator

Bet: A bearish pre-parallel could develop.

R= MD (1767.8);   S= MW (1660.3)

Conclusion: as long as MD= resistance, MW could be a target.

Long term: higher

On a yearly basis: a type II will be the status at the end of the period. Next year, LY should continue to decline (9 periods). Expect to use Dow Jones 1980 / 2000 bull trend as a benchmark.

On a quarterly basis, a bullish parallel pattern is in progress.

On a monthly basis, the bullish parallel pattern is over since May 2012.

Idea: use the monthly MACD as a leading indicator

Bet:  a technical correction is not ruled out for some months.

R= UM (1828);    S= MM (1638.7), PQ (1527.1)

Medium term: rise

On a weekly basis, a rise developed with a NEI on the monthly time frame.

Idea: use our weekly MACD as a leading indicator

Bet: next stochastic status will give the next trend.

R= UM (1828);   S= MW (1653.4)

Short term: end of bullish parallels

On a daily basis, with a close below MD, the parallel will be over. LD is our first support.

Idea: weekly TAM tools are up: no bear trend could develop.

Bet:  trading range for some weeks or bearish pre-parallels.

R= MD (1768.7), UD (1792);   S= LD (1745.5)

Conclusion: below MD (at the close), LD is our next objective.

Long term: higher

On a yearly basis: a type II will be the status at the end of the period. Next year, LY should continue to decline (9 periods). Expect to use Dow Jones 1980 / 2000 bull trend as a benchmark.

On a quarterly basis, a bullish parallel pattern is in progress.

On a monthly basis, the bullish parallel pattern is over since May 2012.

Idea: use the monthly stochastic as a leading indicator

Bet:  a technical correction is not ruled out for some months.

R= UM (1819.4);    S= MM (1616.4), PQ (1474.8)

Medium term: rise

On a weekly basis, UW / LW spread is increasing with a NEI on the monthly time frame.

Idea: use our weekly MACD as a leading indicator

Bet: nothing to do.

R= UM (1819.4);   S= MW (1611.8)

Short term: bullish (for intraday trading only)

On a daily basis, a NEI is the status for volatility and a PEI is the status for our MACD.

Idea:  use our MACD as a leading indicator

Bet:  higher.

R= UD (1702.4);   S= MD (1641.8)

Conclusion: higher as long as our daily MACD is not overbought.

Position: previous: long on a daily basis (PEI status for our MACD), in progress: long, next: use daily MACD as a leading indicator.