CAC 40: not yet bullish

Catégorie [ CAC 40 ]

Long term basis: rise but not bullish

On a yearly basis, stochastic and MACD could continue to be overbought. The rise in progress is only a technical recovery.

On a quarterly basis, LQ / UQ spread is shrinking. Our stochastic and MACD are oversold. Our moving averages are neutral. A B type is likely.

On a monthly basis, Bollinger spread is a reference one. A T1 could not develop with a NEI on the upper time frame.

Idea: monthly stochastic is our leading indicator

Bet: UQ could be a target.

R= 4169 (Feb 2011 high), UQ (4203);    S= MM (3374)

Medium term: not bullish

On a weekly basis, our MACD is not oversold. PW could act as a resistance. For a bullish trend, a NEI is the status for the monthly basis.

Idea: MACD is our leading indicator

Bet: towards MW if PW act as a resistance.

R= PW (3856);               S= MW (3716), LW (3604).

Short term: higher without a bullish trend

On a daily basis, UD / LD spread is expending but is above a reference one. A T2 was not in progress yesterday.

Idea: use our MACD as a leading indicator

Bet: be careful.

R= PW (3856);     S= MD (3717)

Conclusion: As long as PW proves to be a resistance, a correction could develop.

1 Commentaire sur l'article: “CAC 40: not yet bullish”

  • cacsurf
    1 mai, 2013, 13:43

    Bravo Monsieur Cahen, on clôture pile sur PW (3856) !