Monday, October 5, 2015

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

The market bears are dealt a serious blow today with the SPX moving up through the 200 EMA on the 60-minute chart at 1957 which signals bullish markets for the hours and days ahead. The bears need SPX under 1957 or they got nothing. The bears were happy during August and September but now the bulls are taking over--as long as they maintain the positive 200 EMA cross. The bulls were celebrating on 9/17/15 but it was premature as the bears quickly slapped them in the face. Will that fractal play out again now?

The Keybot the Quant algorithm, Keystone's proprietary trading algo, is long and tracking SOX 618.34, RTH 75.58 and JJC 27.91 the key bull-bear levels impacting overall broad market direction. SOX is 621. RTH is 76.06. JJC is 27.64. So semiconductors and retail stocks provide bull market fuel and copper continues to create negativity. Thus, bears need either SOX under 618.34 or RTH under 75.58 to stop the stock market rally. Bulls need JJC above 27.91 which will light the way to SPX 2000.

The 1983-1988 level is an uber strong gauntlet of resistance. Bears win if they can keep price under 1983. Bulls are going to 2000+ if the 1988 is taken out to the upside. 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 2:07 PM:  The SPX comes back up to stab at the 1983-1988 resistance gauntlet printing a HOD at 1983.70 but retreating to 1981. The battle continues as the bulls keep pounding on the 1983-1988 ceiling trying to bust up through.

Note Added 2:23 PM: The SPX has pierced the 1985-1988 gauntlet printing a HOD at 1985.05..... now 195.40. The bulls mean business and are poking at the ceiling to weaken it. Interestingly, copper is not moving higher with JJC at 27.64. Bulls need more fuel to bust through that strong resistance gauntlet. The SPX prints another HOD above 1986 as the SOX prints at highs teasing 622.

Note Added 2:53 PM:  The SPX jumps above 1988 then retreats, then back up to the HOD at 1988.58 but retreats again. This is for all the marbles. The bulls are strong almost busting through the formidable 1985-1988 gauntlet. The bears muster up all their possible strenghth and hold the line at 1988 resistance. Price now at 1986..... 1985 ......

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