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 16, 2011

SP 500 Technical Analysis 2011.12.16

A quick look to the SP500 futures shows prices testing several times the 1,226 resistance level, showing though a bullish pressure in this area.

The technical analysis for S&P 500 index shows the current resistance zone is between the $1,226 and $1,231 levels and an eventual break of it will confirm the reversal on a longer timeframe ( If this will be the case, the first target will be set by early December highs, in the $1,267 area.

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