Thursday, September 5, 2013

SPX 30-Minute Chart 8/34 MA Cross

The 8 MA is above the 34 MA on the 30-minute chart signaling bullish markets for the hours ahead, however, with the Monthly Jobs Report hitting in a few hours, anything can happen. The 8 MA is starting to curl over to the downside and will if price stays under 1656 and heading lower. The green sideways triangle was highlighted a couple days ago which created the 1658 target that was tagged satisfying the pattern. The sideways vibe continues. Indicators are leaking lower but the stochastics are agreeable to further buoyancy. The brown lines show major S/R at 1669, 1661, 1639 and 1627. Price is now moving through 1639-1661. Bulls win above 1661. Bears win below 1639. Watch the 8/34 cross to see which side wins 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.

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