Wednesday, November 28, 2012

Keystone's SPX 60-Minute Chart with 200 EMA Cross Indicator

Bulls are happy with the SPX above the 200 EMABears celebrate when price is under the 200 EMA. The bulls and bears are Rockem Sockem Robots fighting it out over the 200 EMA the last few days; there is a lot on the line since the winner will likely run with the ball for a couple weeks. Yesterday the SPX dropped back under the 200 EMA so the day starts with the bears in charge. The negative divergence created the spank down in price yesterday. The indicators are weak and bleak wanting to see lower lows in price. See if the RSI drops under 50% today.  The down volume late yesterday is strong. The previous strong volume was a few days ago in the 1380-1390 zone. If the SPX stays under the 200 EMA, the bears will rule moving forward. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here.  Consult your financial advisor before making any investment decision.

Note Added 11/28/12 at 6:42 PM:  The SPX ended the day above the 200 EMA so the bulls rule again.

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