Saturday, January 30, 2016

SPX 60-Minute Chart 200 EMA Cross

The SPX 60-minute chart with 200 EMA cross is a critical short term market signal. Price is at 1940 under the 200 EMA at 1947.48 forecasting bearish markets for the hours and days ahead. Bears will flip stocks south again and resume the downward slide across the board if the SPX remains under 1947 and heads lower.

The bulls win big time and a strong upside rally is confirmed if the 200 EMA at the 1947-1948 level is taken out to the upside. Write 1947.48 down and watch it like a hawk in the week ahead; it is an extremely important level; you will likely see price play around at this level going forward as it makes a critical bounce or die decision.

The arrows show the tight squeeze on the standard deviation lines that popped price skyward. Price has violated the upper band so a move back to the middle  band at 1905 and rising is on the table going forward. Price may run up to tap on the 200 EMA then come down to kiss the middle band then back up again. 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.

No comments:

Post a Comment

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