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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Wednesday, April 18, 2012

SP 500 Technical Analysis 2012.04.18

The S&P Index broke below the T1 trend line on the mid-term and created lower lows as the Stochastic oscillator stayed in the oversold area for a few days.

In the past few days a bull channel has been created and the price action resembles to a corrective move. The Fibonacci retracement levels are representing resistances for the price and the overbought condition for the stochastic oscillator represents a potential sell signal.

However, in these days the market is driven by the company’s earnings for the first quarter of 2012 and most of them were above expectations until now.    

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