SPX 30-Minute Chart 8/34 MA Cross

The 30-minute prints two candlesticks thus far today and the bulls are staging a comeback with the help of the positive divergence (green lines). The 8 MA remains under the 34 MA signaling bearish markets for the hours ahead, however, the bulls are pushing the 8 MA higher to set up a potential positive 8/34 cross over the next hour or so. The 8 MA is 1649 so bulls win above 1649 and higher. Bears win with 1649 and lower. A positive 8/34 cross will be the first indication that a recovery rally is on tap for equities. Also watch the VIX 200-day MA at 14.67 since that would be another initial indication that the bulls are ready to take the reins for a while. If the 8 MA stays under the 34 MA and the VIX stays above its 200-day MA, the bulls got nothing. The next one-half hour is critical. Bears need to drive the SPX under 1649 as fast as possible to prevent the 8/34 cross. 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.