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, February 9, 2012

S&P 500 Technical Analysis 2012.02.09

S&P 500 evolution is reflected by the bullish channel started in late December and, in the previous few sessions the T2 line is the main resistance for the price.

The good news that came from Greece today regarding the austerity measures is, in essence, a bullish stimulant for the markets but the next few days will show how the investors are reflecting it.

The first support is at the $1,340 level but on mid-term the $1,323-$1,328 zone represents the key zone.

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