Friday, July 18, 2014

SPX 60-Minute Chart 200 EMA Cross

Now you can see why Keystone always references the 200 EMA cross on the 60-minute often. The SPX remains above the 200 EMA at 1955.72 signaling bullish markets for the hours and days ahead. Note the intraday low at 1955.59 with price bouncing directly off this critical bull-bear signal line verifying its importance. The bulls continue to enjoy a big party above the 200 EMA and even when it is pierced to the downside the bulls have quickly recovered. Perhaps this time it will be different but the bears have no hope until they create a price drop under the 200 EMA which will trigger substantial market selling.

The 8 MA is under the 34 MA on the SPX 30-minute chart signaling bearish markets for the hours ahead. Thus, either the chart above turns bearish agreeing with the 30-minute chart forecast signaling ongoing bear victory and market selling, or, the 8 MA will cross above the 34 MA on the 30-minute chart agreeing with the 60-minute chart above signaling that the bulls win moving forward.

The red lines show weak and bleak indicators wanting to see lower lows in price after a bounce occurs. The stochastics are oversold which will help create a bounce.The bears need the negative 200 EMA cross or they got nothing. If so, equities are going to start noticeably deteriorating. 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.

Note Added 10:05 AM: Equities start off with the bounce and the SPX is at 1965 and higher ruining any bear hopes for market mayhem, for now. Bears need the negative 200 EMA cross, the 1955-1956 level to fail, or they got nothing.

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