Monday, January 19, 2015

SPX 30-Minute Chart 8/34 MA Cross

The 8 MA is above the 34 MA on the 30-minute chart signaling bullish markets for the hours ahead. The other short term signal, the 200 EMA cross on 60-minute chart is signaling bearish markets for the hours and days ahead. These two signals will join together either in the bull, or bear, camp this week and verify the market direction ahead.

The strongest S/R is 2094, 2091, 2088, 2082, 2079, 2075-2076, 2067, 2061, 2046, 2040, 2038, 2032, 2024, 2018-2019, 2011, 2002-2003, 1998, 1988, 1985-1986 and 1982.

The green rising wedge pattern targets the 2026-2032 resistance levels. The chart above and 1-hour and 2-hour charts all display long and strong indicators wanting to see higher highs in price after any intraday pull backs occur probably for the next several hours. The market bears need some negative news to occur overnight to create market downsideChina GDP occurs overnight.  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.

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