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 30, 2012

S&P 500 Technical Analysis 2012.01.30

The 60 min. chart of S&P Index ( in Dealbook) shows a bullish channel developing since the end of last year.

T1 trend line is acting as support and, along with the current support zone ($1,310-$1,313) is establishing a key zone that will give direction for the next days (even weeks).

The ideal bearish scenario will be the brake, retest and continuation pattern, establishing though the current support zone and the T1 line as the main resistance zone.

All the investors are focused on Greek debt talks and on bailout plan for Europe. These kind of news will motivate the traders to take decisions.

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