Research (Investicniweb.cz)
World markets  |  July 30, 2012 07:55:11

Technical Analysis: Strong words from bulls could



The S & P 500, after a two-day madness reached the level of 1386, where it had been at the beginning of May. Created a new higher price and confirmed the continuation of the rally starting in June. (Source: OptionsLOCK)

Support is the bottom line of the channel in the region 1 330 to 1 340, the upper resistance line channel, ie in the 1 400-1 415th Any decline in the mentioned support level changes bullish outlook to neutral. The level of support will be in the 1 300-1 310th

S & P 500

S & P 500 - Technical Analysis

The VIX volatility index does the same as last week. Supports the bullish direction and remains below the 17th After a decline in the S & P 500 returned over the declining trend line, but the top line of long range 21 to overcome. Finally quickly returned to 17 If the VIX goes above 21, the stock market it will be a negative signal.

Volatility index VIX

VIX - Technical Analysis

Conclusion: Although the S & P 500 experienced a strong short-term decline in the indicators to almost no changes and remain in a bull settings. Index created a new higher price confirms bullish outlook towards the topline growth channel that is currently in Zone 1 400-1 415th Support is the bottom line of the channel in the region 1 330-1 340th Any drop below this level turns bullish outlook to neutral with the closest level of support in the 1 300-1 310th

On Thursday, market developments affecting the statements of the ECB President Mario Draghi, the ECB to solve the problems eurozone will do anything. On Friday, the statement added representatives of Germany and France are determined to save the euro do everything. Politicians famously did his job, did not specify anything in particular, but optimism hasnoucímu It poured new blood into the veins and back for a moment everything is bathed in sunshine. Development of U.S. GDP slightly surpassed low expectations, at the end of August or in September you can enjoy a downward revision.

Read also:

ČEZ, Commercial Bank & spol.: Czech Republic offers a good defensive, says Stefan Maxian (Raiffeisenbank)

Tibor Bokor (ING): Czech Telefonica could surprise bonus


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