Saturday, January 10, 2015

SPX 60-Minute Chart 200 EMA Cross

There is a big fight at one of Keystone's short term indicators. The SPX is under the 200 EMA on the 60-minute chart at 2046.83 signaling bearish markets for the hours and days ahead but obviously there is an ongoing battle in progress. Price is 2045 only a smidgen under the 200 EMA at 2047 so bulls can easily fight back and push higher. Bulls got nothing unless they cross back above the 200 EMA and pronto.

Another short term indicator, the 8 MA and 34 MA cross on the SPX 30-minute chart is a hair bullish with the 8 MA a smidgen above the 34 MA signaling bullish markets for the hours ahead. So either the 60-minute chart turns bullish, or the 30-minute 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 occurs which is bearish. Watch the RSI and stochastics to see if they turn below 50% into bear territory, or not. The ECB QE decision, Greek elections and Fed decision occur between 1/22/15 and 1/28/15. Watch the 200 EMA at 2047 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 2:34 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 shown above giving the bears the upper hand (see the SPX 30-minute chart), at least for the short time ahead.

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