Friday, August 11, 2017

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

The 200 EMA on the SPX 60-minute chart is a key short-term signal. The exponential moving average is at 2460 with price down at 2445. The failure of the 200 EMA ushers in bearish markets for the hours and days ahead. Price will need to back kiss this key level going forward. Market bears are okay as long as they keep the SPX below 2460. Bulls will rejoice if the SPX moves above 2460 since that means the relief rally is gaining strength and stocks will continue higher.

The SPX viiolated the lower standard deviation band so the middle band at 2461 and falling is on the table. Price may come up to target  that 2455-2460 area between now and early next week. That SPX 2460 level will tell you a lot; watch it closely. 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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