S&P 500: technical recovery

Catégorie [ S & P 500 ]

Long term basis: rise if PY fails as a resistance

On a yearly basis, Bollinger bands spread is shrinking slowly. Stochastic could be oversold at the end of the period. Our moving averages could continue to rise. Above PY, UY is our main target. As long as PY proves to be a resistance, a type III could develop. With this hypothesis, MY is our main objective.

On a quarterly basis, LQ / UQ spread is maximal but shrinking. A bullish no-crossover is in progress with our stochastic and our MACD. UQ is our maximal target.

On a monthly basis, a PEI is in progress with our moving averages.

Idea: focus on the next status for our monthly stochastic and MACD (bearish divergence)

Bet: rise if PY fails as a resistance.

R = PY (1471), UM (1417);    S = MM (1288), LM (1159)

Medium term: decline

On a weekly basis, a bearish pre-parallel could develop within some periods.

Idea: nothing to do this week

Bet: MW will act as a resistance.

R = MW (1358);    S= MM (1288)

Short term: trading range

On a daily basis; UD / LD spread is a reference one. Without a PEI, the rise in progress is a technical recovery.

Bet: towards UD.

R = UD (1338);                       S= MD (1310), LD (1283)

Conclusion: weak.