Wednesday, December 11, 2013

SPX 60-Minute Chart with 200 EMA Cross Sideways Channel

Keystone's SPX 60-Minute Chart with 200 EMA Cross Indicator failed today signaling bearish markets for the hours and days ahead (red circle). This has been a long time coming and it is only a tentative break down. Bulls are in substantial trouble as long as the SPX stays under the 200 EMA, now moving flat at 1783.51. The SPX sits at the bottom rail of the sideways channel 1782-1808 so price must either bounce, or die. The indicators are weak and bleak except for the stochastics that will create a bounce in quick order. Therefore, lower prices would be expected after the bounce. The RSI and money flow are not oversold. Projection is lower prices moving forward. Bulls got nothing unless the SPX moves back above the 200 EMA. 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.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.