Sunday, October 18, 2015
SPX S&P 500 60-Minute Chart 200 EMA Cross
As Keystone highlighted at the time, the move up through the 200 EMA was a fatal blow for bears. The SPX is above the 200 EMA at 1981 signaling bullish markets for the hours and days ahead. Price needs to back test the 200 EMA to show it respect. It has been showing it disrespect so a move lower should be in order very soon. Indicators are negatively diverged with overbot stochastics wanting to see a spankdown in price in this one-hour time frame. Bears got nothing unless they can move the SPX under 1981. 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.