Sunday, July 9, 2017

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

The 200 EMA on the SPX 60-minute chart is a key short term stock market signal. Bulls win if price is above. Bears win below. The S&P 500 moves sideways choppy since the end of June and the market bulls sent price to 2425.18 which is 39 cents above the key 200 EMA at 2424.79 and places the bulls in charge for the hours and days ahead (although this fight will likely continue as the new week begins).

The downward-sloping channel is in play. Price may  want to touch the top rail at 2427-2430. The Keybot the Quant algorithm says semiconductors are key to start the new week. As chips go, so goes the market. And, as this chart indicates, bulls win big above 2425. Bears win big under 2424. 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 Tuesday Morning, 7/11/17, at 7:30 AM EST: Semiconductors shot higher yesterday so the market bears could not take stocks lower. The SPX ekes out a couple points and is now sitting at 2427. The 200 EMA on the 60-minute is 2425.04. The beat goes on.

Note Added Wednesday Evening, 7/12/17, at 8:55 PM EST: The bears are slapped in the face with the SPX catapulting off the 2425 level with a gap up move to 2443. The bulls are in control for the coming hours and days.

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