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 23, 2011

S&P 500 Technical Analysis 2011.12.23

Last three days gave a nice bullish scenario on S&P 500 Index, targeting the 1,266 resistance area, representing the early December highs.

The chart is very explicit and needs nothing to add up to now. The most important thing to watch now is a possible bullish failure in the resistance zone. The fail to reach it will prove temporary weakness (at least) of the bulls and can set the market for a correction.

A confirmation in this scenario will appear if the price will break below the T2 trend line.  For those who want to get a second signal, the breach of 1,247 - 1,253 area (strong support) will activate it. 

You can find the original posts here:

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