Monday, November 28, 2016

SPX S&P 500 30-Minute Chart; 8/34 MA Cross

The 8/34 MA cross on the SPX 30-minute is a very useful VST (very short term) market indicator on direction. Day traders need to pay attention to this cross. On 11/7/16, the day before the election, the 8 crosses above the 34 and the bull party begins. The 8 now teases a negative cross but look at how  many times the bears hopes are dashed over the last month. One of these times the 8 will stab down through the 34 to begin the bear fun.

The red rising wedge is bearish as well as oberbot RSI and stochastics and universal negative divergence with the indicators so price is retreating in this 30-minute time frame. The ROC is weak and bleak wanting to see lower prices for the SPX. Bears need the negative 8/34 MA cross or they got nothing. 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.

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