S&P 500: be careful

Catégorie [ S & P 500 ]

 

 

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Long term basis: could be bullish

On a yearly basis, PY failed as a resistance. Stochastic is oversold. Our moving averages could continue to rise. UY is our main target if 1576 (current high) fails as a resistance.

On a quarterly basis, Bollinger Bands spread is maximal but could increase. A bullish no-crossover is the status for our stochastic and MACD.UQ (1549) is our first target.

On a monthly basis, a bullish no-crossover is the status for each TAM tool. M23 is not flat.

Idea: monthly MACD is our leading indicator

Bet: with a no-crossover status for our monthly stochastic and MACD in early February, 2013 will be a bullish year.

R = 1576, UY (1683);    S = MM (1321), LM (1165)

Weekly basis:  a bullish T1 is not ruled out

On a weekly basis, Bollinger bands spread is a minimal one. With a downtrend for LW, a bullish T1 could develop.

Idea: focus on LW trend (if a close above UW occurs)

Bet: be long only with a T2.

R = UW (1469.7);    S= MW (1422.6)

Daily basis: be careful

A NEI is in progress on the upper time frame. No T2 is in progress on the daily basis.

Idea: use our daily MACD as a leading indicator

Bet: a bullish pre-parallel could develop.

R= U (1469.7);                       S= MD (1428.3), LD (1398)

Conclusion: could be bullish if UW fails as a resistance (weekly close).