Market Technical View is a blog that mostly concerns the technical analysis of different financial instruments like indices, commodities, stocks, ETFs and currencies.

All the posts are structured in 3 main chapters that can be found in Content, in the upper right-hand corner of the blog.

Market perspective. The technical approach consists of chart patterns and important support/resistance zones. The purpose of this section is to give directions of the price on short and medium term (a few days up to a few months).

Trading setups. The analysis posted here will provide trading scenarios based on different technical tools.

Romanian Market. This is a section dedicated to Romanian stocks and indices.

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Friday, December 2, 2011

Christmas Rally on S&P?!

The S&P Index rallied in the past few sessions, now trading close to the late October highs ($1,292).

There are many technical signals (in price and time) that point to the same area as for a main target for the month of December: this is the end of the month (and year) at the $1,346 level.

Some of the projections that lead to this level and time are: wave (C) of the larger degree corrective wave 2 , equals wave (A); the highs of the early May; wave 2 = 50% of wave 1(blue) and wave (C) = wave (A) and wave (B) in time….

Keep in mind that usually, the end of the year develops what is called a Christmas Rally which might be half realized already. One major factor in the future evolution of price is that the medium trend (a few months) still keeps a descending structure, therefore labeling this current up move (wave 2-blue) as a corrective swing.   


  1. I find a downward sloping joining alltimes of October 27, November 8 and December 5! We should consolidate into 1222?

  2. Although my comment came late, I would have agree with the trend line you suggested but my main concern was that the rally from 24th of Nov. is too steep and large to be part of the swing down that started in 26th of Oct.