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, January 9, 2012

S&P 500 Technical Analysis 2012.01.09

S&P Index seems to be holding the support offered by T1 trend line, which is part of the rising channel, along with the T2 trend line.

The first important resistance is at 1,282 as it reversed the price 4 times in this year.  The most important thing for the future days is that the price is moving within the final stage of a complex correction, of which wave c (and Y at the same time) is the last sub-wave.

Moreover, one of the previous charts of S&P 500 ( shows the bigger picture where we can clearly see that 1,265-1,294 is a resistance zone. 

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