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 16, 2012

S&P 500 Technical Analysis 2012.02.16

The last 8 sessions of S&P 500 oscillated in the $1,340-$1,354 horizontal channel and shoes the investors’ indecision regarding the market perspective.

In case of a correction, the most important support zone is between 1,331 and 1,340 levels, as stated in the previous analysis ( ). 

The bearish scenario will trigger if the current support zone will be breached. If so, than a sharp throwback is possible in order to retest the T1 trend line before the market will head towards the support levels from $1.3000, $1,280 and $1,260.

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