Another short term indicator is the 200 EMA cross on the 60-minute chart and the SPX is under the 200 EMA on the 60-minute chart at 2046.83 signaling bearish markets for the hours and days ahead. So either the 60-minute chart turns bullish, or the 30-minute 8/34 signal has to turn bearish. One of them is wrong and Monday will identify the winner and loser. For the chart above, the negative MACD cross is bearish. Money flow is making a lower low and the RSI and stochastics are below 50% in bear territory. The ECB QE decision, Greek elections and Fed decision occur between 1/22/15 and 1/28/15. Watch the 8/34 MA cross to see who wins going forward.
The SPX S/R is 2094, 2091, 2088, 2082, 2079, 2075-2076, 2067, 2061, 2054, 2040, 2038, 2024, 2018, 2011, 2002-2003, 1998 and 1985-1986. 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 2:30 PM on Monday, 1/12/15: The 8 MA stabbed down through the 34 MA on the SPX 30-minute chart after the opening bell ushering in bearish markets for the hours ahead. The 30-minute chart ends up agreeing with the 60-minute 200 EMA cross signal giving the bears the upper hand (see previous SPX 60-minute chart), at least for the short time ahead.