Thursday, May 28, 2015

SPX S&P 500 60-Minute Chart 200 EMA Cross

The critical 200 EMA on the SPX 60-minute chart is 2109.30 moving sideways. Market bulls continue drinking Fed wine and are drunk as skunks celebrating without any concern or worry--unless the 200 EMA fails.The 200 EMA is a key short-term signal that currently forecasts bullish markets for the hours and days ahead. Bears need the SPX under 2109.30 or they got nothing. The previous 1-hour chart highlighted the H&S pattern in blue that did give way to the downside and the bears ruptured the 200 EMA but then happy talk over a Greece bailout deal sent stocks higher yesterday. The SPX spiked back above the 200 EMA punching the bears in the face.

Market bulls are fine as long as they keep the SPX above 2109. Market bears win going forward if the 200 EMA at 2109 fails. 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 Monday morning, 6/1/15, at 5:45 AM: The bears keep fighting late last week and push the SPX under the 200 EMA at 2109 signaling bearish markets for the hours and days ahead. Of course the dance will continue in Monday trading. Bulls win above 2109.83 and bears will accelerate the downside if price remains under 2109.83. S&P futures are flat about 3-1/2 hours before the opening bell giving up +8 only a couple hours ago.

No comments:

Post a Comment

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