SPX 30-Minute Chart Oversold Falling Wedge Positive Divergence

The 30-minute chart shows the critical 8 MA and 34 MA crosses tipping off market direction. The red rising wedge, overbot condtions and negative divergence spanked price down from 1270. The green lines show oversold conditions, a falling wedge and positive divergence in line with the green futures this morning. The chart wants to see some upward buoyancy but the 8 MA under the 34 MA will maintain a bearish back drop--unless the 8 MA moves back above the 34 MA. Key SPX S/R is 1270, 1268, 1267, 1261, 1258, 1252, 1247, 1240, 1235, 1229 and 1227.This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your financial advisor before making any investment decision.