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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Thursday, January 5, 2012

S&P 500 Technical Analysis 2012.01.05

The S&P Index had a good start in 2012 but the bulls should take care as the price is currently moving inside a broad resistance zone (1,265-1,294).

This does not exclude the possibility of a break above the $1,294 but precaution is advised, as this resistance zone is strong both from Elliott Wave count theory (the October-present rise is developing as a complex correction) and previous lows and highs of 2011.     

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