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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Friday, January 6, 2012

S&P 500 direction for the next period

The H1 chart of S&P Index is showing the price action of the last couple of months as a final c wave of Y of 2.

The main focus here will be the channel between the T1 and T2 lines, as is proved to be respected up to this moment. Keeping in mind that we are in a final wave up (part of a larger correction) the investors should be looking for exhaustion signs here.

Of course, we are hearing only good news from US and no news for Europe (like everything is OK now) and this is usually typical for an ending period of rising prices.

There are no selling signs for now but precaution is vital for the next days/weeks.


Posted by Adrian Filip at 3:48 PM
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