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.

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Thursday, February 23, 2012

S&P 500 bearish divergence 2012.02.23

A daily chart of the S&P 500 Index shows the first clear bearish divergence since the 2011 October lows.

The bearish divergence means that the trend is weakening and adding the fact that the 2011 highs represent strong resistance, the investors should pay attention to an eventual sharp correction.

The first level of support is in the $1,342 area and if the price will decisively brake below it we can look for a broader decline, at least on the short term.


Posted by Adrian Filip at 4:28 PM
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