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, April 9, 2012

SP 500 Technical Analysis 2012.04.09

The US markets  were closed on Friday and are closed today, therefore the spot price for S&P is stuck at $1,398 but the futures plunged as the Non-Farm Employment Change came half than expected on Friday report.

The futures price is currently steady in the $1,378 area and it is expected to stay that way until tomorrow.

The larger picture shows a good support in this area, provided by the late February local highs. However, the chances are that an intermediate correction has started and we are looking for lower levels for the next weeks.

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