SPX 30-Minute Chart 8 and 34 MA Cross Overbot Rising Wedge Negative Divergence

The 30-minute displays a rising wedge, overbot conditions and negative divergence so a spank down is at hand.  Note the money flow that is squeezing out some momo over the last couple hours so this will enable the bulls to perhaps force sideways markets for a couple hours allowing time for the money flow to negatively diverge and join the fold. This scenario would match with the RSI on the 2-hour so perhaps sideways SPX into lunch time with downside following. Alternately, the downside may begin anytime. Of course if the Fed pumps the markets with a comment, stocks will go up.

Watch the 8 and 34 MA cross, now with the 8 above the 34 so the bulls are in charge for the hours ahead. Bears got nothing unless they create the negative 8/34 cross. Projection is for the SPX to roll over today. 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.