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).

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Thursday, March 1, 2012

SP 500 seems to be loosing momentum. 2012.03.01

S&P 500 Index still stands in the bullish channel but in the past couple of weeks the bulls failed to reach the upper limit (T2 trend line) which stands as a resistance for the market.

This weakening trend in the past weeks could determine some of the investors to liquidate at least part of their holdings and could also attract more and more bears into the market. These two actions could lead to a significant correction that would target the support levels shown on the chart.

The bearish trigger will be a break below the T1 trend line.


Posted by Adrian Filip at 3:47 PM
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