Monday, August 13, 2012

Keystone's SPX 30-Minute Chart with 8 and 34 MA Cross Midday 8/13/12

The soap opera saga lives on.  One thing is for certain, when the 8 MA finally commits to one side or the other of the 34 MA, the story will firmly be written for perhaps a week or two ahead. Another stutter step occurs this morning, and here is the 12:30 PM candle that is just printing. Note the steep downward slope of the 8 MA. Will it now achieve a strong divergence with the 34 MA? SPX 1396 is an important number today. If the bears can push under a downside acceleration will occur and the 8 MA would be firmly committed in the bear camp for the days ahead.  The saga continues.

Note Added 8/13/12 at 3:37 PM:  The bulls pushed the 8 MA above the 34 MA minutes ago, see if it holds, or not, into the close.
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6 comments:

  1. AnonymousAugust 13, 2012 at 1:11 PM

    $spx:$vix just printing 99.4? Have you ever seen this before?

    ReplyDelete
  2. ArnieAugust 13, 2012 at 2:11 PM

    Yes as a matter of fact in march, the ratio printed 100+ today as well like back then. I have no idea why so complacent? Pure hopes on more stimulus? That be really crazy, but could happen of course... Right now it's another day of not moving anywhere... It's like the trenches of WW1... Agonizing...

    ReplyDelete
  3. ArnieAugust 13, 2012 at 2:19 PM

    Not sure what to make of today sofar. While move from open to 11am was a clear 5 wave down:

    Wave1 down: open to 1402.8
    Wave2 up: 1402.8 to 1404.49
    Wave3 down: 1404.49 to 1399.40
    Wave4 up: 1399.40 to 1400.93
    Wave5 down: 1400.93 to 1397.42

    Everything after us a mess and therefore likely corrective. Ugh...

    ReplyDelete
  4. ArnieAugust 13, 2012 at 3:48 PM

    3 crosses in one day... Wohahaha. The best I can make of the move since 11am is also a 5 wave, with wave 5 now under way!?

    ReplyDelete
  5. Keystone SpeculatorAugust 13, 2012 at 4:02 PM

    The bulls close it with the 8 above the 34, more drama is ahead. At least when it decides and commits, the market direction will be obvious, until then, indecisive sideways action.

    ReplyDelete
  6. AnonymousAugust 14, 2012 at 2:39 AM

    Hi KS, even the market is topping but Russell 2000 index closed under 800, from your experience, have you seen this in the past? Is this an unusual behavior of Russell 2000?
    Thanks, kf

    ReplyDelete

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