EUR-USD vs. S&P500

I just noticed this very interesting chart that shows the good correlation of the EUR-USD cross and the S&P 500 index.

If EUR-USD is leading, which happened before, than the bulls in S&P should take great care.

EUR-USD Technical Anlalysis 2011.12.16

The EUR-USD gave a fake brake signal in the past few hours, when the 1,3040 resistance was temporary breached.

I am going along with my previous opinion and say that 1,2900 is a very strong target and it is acting as a magnet for the market.  

Check yesterday analysis and see what 1,2900 really means:
http://markettechnicalview.blogspot.com/2011/12/eur-usd-technical-anlalysis-20111215.html

SP 500 Technical Analysis 2011.12.16

A quick look to the SP500 futures shows prices testing several times the 1,226 resistance level, showing though a bullish pressure in this area.

The technical analysis for S&P 500 index shows the current resistance zone is between the $1,226 and $1,231 levels and an eventual break of it will confirm the reversal on a longer timeframe (http://markettechnicalview.blogspot.com/2011/12/sp-500-technical-analysis-20111215.html). If this will be the case, the first target will be set by early December highs, in the $1,267 area.

DAX Technical Analysis 2011.12.16

DAX index is trading in the 5,700-5,800 area for several hours now and if we look at the bigger picture, we notice that the previous lows (5,650 zone) are not in danger and there is a symmetrical triangle pattern emerging which usually is a continuation pattern.

Moreover, DAX  is recovering after a 2 week correction (from the 5^th of dec.) that can reveal attracting prices for possible bulls.

Crude Oil (WTI) Technical Analysis 2011.12.16

Crude Oil moved yesterday out of the indecision zone between $94.00 and $95.50 levels, now retesting the lower border that turned into first resistance.

I plotted on the H4 chart the most probable 2 scenarios that are pointing lower, in the $90.00 area as the main target for a down move. However, we have to pay attention to US Dollar price action and the news from Iran (instability rumors from this area will rise the oil price).

On the 15 min timeframe the chart shows strong resistance in the $94.30 - $94.90 area and by now we have conformation of bear intervention at $94.30 as the price moved away after retesting it.

Here, the target for a swing down (AB=CD) is in the $91.50 area. PAY  ATTENTION! Crude Oil can travel up to $94.90 (creatin a 3 wave up move correction) before the descending trend will resume(see it on the h4 chart).

Analiza Tehnica SIF Oltenia (SIF5) 2011.12.16

Semnalul de cumparare dat saptamana trecuta (http://markettechnicalview.blogspot.com/2011/12/analiza-tehnica-sif-oltenia-sif5_09.html ) pentru SIF 5 a generat, pana in prezent, un randamant de 11,7%.

Datorita capacitatii de progres pe termen scurt (cateva zile - saptamani)  mentinem semnalul de cumparare activ. Un nivel de suport pentru ziua de azi se observa la nivelul 1,0650 RON iar rezistenta ramana aceeasi: zona 1,2400 - 1,3000  RON.

Analiza Tehnica SIF Muntenia (SIF4) 2011.12.16

SIF Muntenia a atins maximul de 0,5900 RON in sedinta de ieri iar din punctual de vedere a actiunii pretului, zona de rezistenta 0,6150 - 0,6400 RON poate atrage atentia vanzatorilor.

Primul suport pentru azi este dat de nivelul 0,5490 RON, nivel important in actiunea anterioara a pretului.