SPX 30-Minute Chart 8 MA and 34 MA Cross H&S Pattern

The bears were short-changed once again. On Friday, the 8 MA stabbed down through the 34 MA signaling bearish times ahead but the bulls reversed this cross yesterday with the 8 MA above the 34 MA signaling bullish markets for the hours and days ahead. If price stays under the 8 MA at 1595 it will pull the 8 MA lower. The bears got nothing unless they move the 8 back below the 34 MA.  The red and purple lines show the rising wedges, overbot conditions and negative divergences that created the spank down last Thursday, and yesterday afternoon into the closing bell. Further weakness would be expected but in this central banker age, you never know. An H&S is in play with head at 1597 and neck line at 1576 which targets 1555. April began at 1569 so keep that in mind as the last day of the month plays out. 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.