SPX 30-Minute Chart 8/34 MA Cross Overbot Rising Wedge Negative Divergence Upper Standard Deviation Band Violation

The minute and hourly charts are peaking out with rising wedges, overbot conditions and negative divergence so a roll over in SPX price is anticipated moving forward. Traders may try to keep the markets floating along sideways into the closing bell to await the AAPL results after the bell. Independent of Apple's success, or failure, in less than four hours, the very short-term charts favor a roll over for the broader market. The 8 MA is above the 34 MA signaling bullish markets for the hours ahead.  The bears need to push the SPX under the 8 MA at 1760 to curl the 8 MA to the downside.

Price keeps tagging the upper standard deviation band so a trip back to the middle and/or lower bands are in order at 1757 and 1751, respectively. The VIX is up today and the SPX; one of them is wrong. This broad market versus volatility action, moving in the same direction, is becoming common place the last few days. The oddity is that this should only occur about 10% of the time. Traders are willing to hold their long positions but are now seeking downside protection. Market bears got nothing until they receive the negative 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.