The green lines create the positive divergence bounce yesterday although the MACD line is not enthusiastic about the upside and RSI and money flow never reached oversold territory. Price now staggers with a sideways vibe heading into Thursday. Note how the price action may continue the downward expansion pattern (green lines). Watch the top rail at 1793-1795 to see if it holds as resistance, or not. The neon blue H&S played out with head at 1814, neckline at the strong S/R at 1803, and target at 1792, achieved. The pink H&S is in play with head at 1814, neckline at 1782, which targets 1749 if the 1782 fails.
The 8 MA is under the 34 MA on the SPX 30-minute chart signaling bearish markets for the hours ahead (reference previous chart). This 8/34 signal must resolve with the 200 EMA signal above. Either the 200 EMA on the 60-minute will fail verifying extended market downside ahead, or, the 8/34 positive cross on the 30-minute will occur signaling happy bullish markets ahead. Watch the 200 EMA cross. Key S/R is 1814, 1807-1808, 1803, 1798-1799, 1796, 1791, 1788, 1782, 1777-1779 (yesterday's low and the 200 EMA on the 60-minute), 1775 and 1772. 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.