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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Tuesday, January 17, 2012

S&P 500 is showing a weak trend. 2012.01.17

The H1 chart of S&P 500 Index shows a weaker momentum of the rising move started in December 19th.

The break of T1 trend line is definitely a bearish sign and T4 line is acting now as resistance. One of the previous analysis (http://markettechnicalview.blogspot.com/2012/01/where-is-s-500-heading-now.html) shows that the $1,280-$1,300 area is a resistance zone and the Elliott Wave analysis also states corrective wave 2 ending.




Posted by Adrian Filip at 3:21 PM
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