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S & P 500
Long term: flat
On a monthly basis, the 7 and 23 months moving averages are rising. The parabolic should stay below the Bollinger moving average for some months. But, a poor bearish divergence with the stochastic is in progress. The rise could continue. UM (1227) is flat and should act as a resistance. Below PM (1096) our next objective is LM (1021).
Medium term: bearish semi-bubble?
On a weekly basis, as long as the stochastic is not oversold, a bearish semi-bubble is in progress. With a non-crossover on the stochastic, a bearish parallels pattern could develop. As long as MW (1189) proves to be a resistance, a rise will be only a technical recovery.
Short term: above PD (1171)?
On a daily basis, the spread between Bollinger bands is wide and Boll bands are flat. Above PD, our next main resistance is UD (1199). LD (1143) could be a good support. If PD proves to be a resistance, a bearish pre-parallels pattern will be likely.
Conclusion: technical recovery above PD (1171)
NASDAQ 100
Long term: towards LM (1329)
On a monthly basis, a poor bearish divergence is in progress with the stochastic. The MACD is slightly overbought. Our 7 and 23 months moving averages will be without trend soon. Our next target is LM (1329).
Medium term: MW (1526) = strong resistance
On a weekly basis, a bearish pre-parallels pattern should be the right one if PW (1503) proves to be a resistance. Above MW, a recovery towards UW (1635) is not ruled out. With a non-crossover between the stochastic and its moving average and if PW proves to be a resistance, a bearish pattern should develop.
Short term: technical recovery
On a daily basis, our 7 – 23 days moving averages are not bullish. The stochastic could be oversold. The spread between the Bollinger bands is wide. UD (1518) should act as a strong resistance if MD (1464) does not prove to be a target. Otherwise, a bearish pre-parallels pattern could develop.
Conclusion: technical recovery above MD (1464).
CAC 40
Long term: flat
On a monthly basis, UM acted as a resistance and the stochastic is overbought. The market is without trend. Below PM (3827) our next target is MM (3677).
Medium term: more decline
On a weekly basis, a crossover between the indicator and its moving average was simultaneous on the stochastic and the MACD. Our 7 weeks moving average should continue to decline. Our 7 and 23 weeks moving averages should be flat soon. The spread between Bollinger Bands is wide. PW (4029) should act as a strong resistance. Our next target is PW (4144 – next week). Otherwise, LW (3726) will be a strong support.
Short term: Australian pattern
On a daily basis, as long as PD is above MD, the decline should continue. With a close above 4032 the market will be without trend. MD (4059) is our next target.
Conclusion: more decline as long as 4032 prove to be a resistance.
DAX Index
Long term: UM (4467) = strong resistance
On a quarterly basis, a resistance, MQ, is not far away. If this objective proves to be a resistance, a bearish pre-parallels pattern could not be ruled out.
On a monthly basis, UM is flat and acted as a resistance in April. The 7 and the 23 months moving averages will be flat soon. As long as UM (4467) proves to be a resistance (month end), the market is toppish. Below PM (4107) our next target is MM (3973).
Medium term: bearish bubble / parallels pattern?
On a weekly basis, the spread between Boll bands is thin. With a close below LW (4157) and a new low on the next week and a symmetrical divergence between Boll bands, a bearish bubble / parallels pattern should develop.
Above MW (4296) a technical recovery towards UW (4436) is not ruled out.
Short term: Australian pattern
On a daily basis, as long as PD is above MD, the decline should continue. With a close above 4312 the market will be without trend. MD (4331) is our next target.
Conclusion: decline as long as MD (4331) proves to be a resistance.
Nikkeï 225
Long term: flat
On a quarterly basis, the parabolic is flat. The stochastic and the MACD are not overbought. A B type crossover between the 7 and 23 quarters moving averages is not ruled out next quarter. The rise could continue.
On a monthly basis, UM acted as a resistance. The stochastic and the MACD are overbought. Our 7 and 23 months moving averages are flat. The market is without trend. LM (10214) is our first support.
Medium term: flat
On a weekly basis, Bollinger bands are flat and the spread is maximal. MW (11480) should act as a strong resistance. The previous low (10721) is a good support.
Short term: bearish semi-bubble pattern
On a daily basis, the Bollinger bands pattern is a bearish semi-bubble. With an oversold status of the stochastic, a recovery is expected. If MD (11526) proves to be a resistance, a bearish pre-parallels pattern should develop. Otherwise, a recovery towards UD (12121) is likely if MD does not prove to be a resistance.
Conclusion: decline as long as MD (11526) proves to be a resistance.
Long term: flat
On a monthly basis, the 7 and 23 months moving averages are rising. The parabolic should stay below the Bollinger moving average for some months. But, a poor bearish divergence with the stochastic is in progress. The rise could continue. UM (1227) is flat and should act as a resistance. Below PM (1096) our next objective is LM (1021).
Medium term: bearish semi-bubble?
On a weekly basis, as long as the stochastic is not oversold, a bearish semi-bubble is in progress. With a non-crossover on the stochastic, a bearish parallels pattern could develop. As long as MW (1189) proves to be a resistance, a rise will be only a technical recovery.
Short term: above PD (1171)?
On a daily basis, the spread between Bollinger bands is wide and Boll bands are flat. Above PD, our next main resistance is UD (1199). LD (1143) could be a good support. If PD proves to be a resistance, a bearish pre-parallels pattern will be likely.
Conclusion: technical recovery above PD (1171)
NASDAQ 100
Long term: towards LM (1329)
On a monthly basis, a poor bearish divergence is in progress with the stochastic. The MACD is slightly overbought. Our 7 and 23 months moving averages will be without trend soon. Our next target is LM (1329).
Medium term: MW (1526) = strong resistance
On a weekly basis, a bearish pre-parallels pattern should be the right one if PW (1503) proves to be a resistance. Above MW, a recovery towards UW (1635) is not ruled out. With a non-crossover between the stochastic and its moving average and if PW proves to be a resistance, a bearish pattern should develop.
Short term: technical recovery
On a daily basis, our 7 – 23 days moving averages are not bullish. The stochastic could be oversold. The spread between the Bollinger bands is wide. UD (1518) should act as a strong resistance if MD (1464) does not prove to be a target. Otherwise, a bearish pre-parallels pattern could develop.
Conclusion: technical recovery above MD (1464).
CAC 40
Long term: flat
On a monthly basis, UM acted as a resistance and the stochastic is overbought. The market is without trend. Below PM (3827) our next target is MM (3677).
Medium term: more decline
On a weekly basis, a crossover between the indicator and its moving average was simultaneous on the stochastic and the MACD. Our 7 weeks moving average should continue to decline. Our 7 and 23 weeks moving averages should be flat soon. The spread between Bollinger Bands is wide. PW (4029) should act as a strong resistance. Our next target is PW (4144 – next week). Otherwise, LW (3726) will be a strong support.
Short term: Australian pattern
On a daily basis, as long as PD is above MD, the decline should continue. With a close above 4032 the market will be without trend. MD (4059) is our next target.
Conclusion: more decline as long as 4032 prove to be a resistance.
DAX Index
Long term: UM (4467) = strong resistance
On a quarterly basis, a resistance, MQ, is not far away. If this objective proves to be a resistance, a bearish pre-parallels pattern could not be ruled out.
On a monthly basis, UM is flat and acted as a resistance in April. The 7 and the 23 months moving averages will be flat soon. As long as UM (4467) proves to be a resistance (month end), the market is toppish. Below PM (4107) our next target is MM (3973).
Medium term: bearish bubble / parallels pattern?
On a weekly basis, the spread between Boll bands is thin. With a close below LW (4157) and a new low on the next week and a symmetrical divergence between Boll bands, a bearish bubble / parallels pattern should develop.
Above MW (4296) a technical recovery towards UW (4436) is not ruled out.
Short term: Australian pattern
On a daily basis, as long as PD is above MD, the decline should continue. With a close above 4312 the market will be without trend. MD (4331) is our next target.
Conclusion: decline as long as MD (4331) proves to be a resistance.
Nikkeï 225
Long term: flat
On a quarterly basis, the parabolic is flat. The stochastic and the MACD are not overbought. A B type crossover between the 7 and 23 quarters moving averages is not ruled out next quarter. The rise could continue.
On a monthly basis, UM acted as a resistance. The stochastic and the MACD are overbought. Our 7 and 23 months moving averages are flat. The market is without trend. LM (10214) is our first support.
Medium term: flat
On a weekly basis, Bollinger bands are flat and the spread is maximal. MW (11480) should act as a strong resistance. The previous low (10721) is a good support.
Short term: bearish semi-bubble pattern
On a daily basis, the Bollinger bands pattern is a bearish semi-bubble. With an oversold status of the stochastic, a recovery is expected. If MD (11526) proves to be a resistance, a bearish pre-parallels pattern should develop. Otherwise, a recovery towards UD (12121) is likely if MD does not prove to be a resistance.
Conclusion: decline as long as MD (11526) proves to be a resistance.
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