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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Monday, December 19, 2011

S&P 500 Technical Analysis 2011.12.19

The S&P 500 index (futures) created a double bottom formation in the 50% retracement zone of the late November – early December rally.

This pattern could provide the bias for another swing up, above the previous highs, in the 1,270 area ( . On a shorter time frame (today and tomorrow) we can expect a break-retest-continuation price action which will confirm the bullishness of the market.  

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