SPX 30-Minute Chart 8 and 34 MA Cross Negative Divergence Spank Down

The SPX 30-minute chart is showing the negative divergence spank down we have been watching build the last couple days.  VIX is at 12 moving higher so that creates bear fuel. The bears got nothing unless VIX hits 15 so an interim gauge to use for market direction is the good ole 8 and 34 MA cross on the 30-minute.  The 8 MA is curling over to the downside with the negative divergence smack down so watch for the 8/34 cross today. If the bears can move the 8 down through the 34, and keep it under, the bears can start to make headway to the downside. If the 8 stays above the 34 MA today, the bears got nothing and the bulls will recover again.

Note how the recent 8/34 crosses in early March and only a couple days ago result in fake-out moves with the bulls recovering sending the 8 MA higher.  Is today the cross to the downside that has legs, or are the bulls simply teasing the bears again? The bears need to break down through 1555 which would test 1553 quickly and then send price to test 1548. The LOD thus far is 1555.74 so pay attention to that number. The Fed is pumping now so the SPX is floating higher. The falling stochastics and MACD want to see lower lows so a test of 1555 should be on tap. The bears must keep the SPX under 1560 to keep the 8 MA moving lower. The bulls need to send the SPX above 1560 for a happy Friday. 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.