Update on them top 30

Well well it looks like the bulls have had last laugh the past 2 weeks and bears are licking their wounds, but is this the case? Nothing is certain in life except for Death and Taxes so take these charts as a bit of fun.
First up is a zoomed out daily, the line in the sand is around 11680ish where you can see this little area has been a magnet in the past. If current action breaks this "line" then we cant discount a big run, as price has had a chance to consolidate in the purple band. The range of this run depicted on the chart below would take them to new highs for 2012. There is a case for this scenario to come to fruition as the daily MACD is coming out of an oversold position only seen 5-6 times in 10 yrs.

Ok now we have shown the bull case we cant discount a bear case that this run might have finished last night , the chart below shows that the action hasnt broken that line as of yet (as does the 1 above) so it stays where it is but i have included a line below that has had action before and is a strong support area in my eyes. The blue range would take us there and a bounce that trend on the MACD would favour bulls to take positions, current action is also held by the RSI .........................................................................

Now we can zoom in and see if any of the above can be taken in context, if we put a fib set on the 2011 highs and lows we see that current action whilst being bullish hasn't been able to break the 50% , but the RSI has been rising without price making higher highs , if the price action breaks the 50% then a run to the 200sma & nxt fib level cant be discounted before xmas, a similar pattern to the 08 fall...................