Tuesday, March 28, 2017

SPX S&P 500 30-Minute Chart with 8/34 MA Cross and 60-Minute Chart with 200 EMA Cross

Here are two of Keystone's key VST (very short term) stock market direction indicators. On the SPX 30-minute, the 8 MA remains under the 34 MA signaling bearish markets for the hours ahead. The price action is in a downward channel. The SPX is at 2342 above the 8 MA so price continues to pull this moving average higher to potentially create a positive cross above the 34 MA and prove that the bulls will receive a relief rally. The market bears must push price under the 8 MA at 2340 pronto to curl it lower away from the 34. Watch this closely.

On the SPX 60-minute, the S&P 500 is below the 200 EMA on the 60-minute at 2352 signaling bearish markets for the hours and days ahead. Note how price failed through the 200 EMA last Tuesday, a week ago, so you knew markets were in trouble. The SPX then comes up for the back kiss and on Friday was spanked down unable to overcome the 200 EMA. If a relief rally occurs, pay attention to the 2352 level since that will determine if any rally continues, or if it is squashed. For now, the bears rule the markets with  bearish signals from both charts. The first hint that the bulls are creating a market bottom and recovering would be shown with a positive 8/34 MA cross on the SPX 30-minuteThis 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 8:20 PM EST: At 11 AM EST, the SPX price ran above the 200 EMA on the SPX 60-minute chart at 2352 signaling bullish markets for the hours and days ahead. The bears were on the ropes and then, at 11:30 AM, the 8 MA crosses above the 34 MA on the SPX 30-minute chart signaling bullish markets for the hours ahead. The bulls punch the bears squarely in the face. The bears fall backwards and do not know what hit them.

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