Keystone's SPX 30-Minute Chart with 8 MA and 34 MA Cross Indicator

Here is one of Keystone's market turn signals (reference the Market Turn Signal page on this site). On 5/30/12, the bears seized control as the 8 MA stabbed down thru the 34 MA.  The bulls wrestled back control on 6/5/12.  Look at the fakeout move on Friday where the 8 MA teased that it would move down thru the 34 MA again, but once the Spain bailout rumors circulated across the trading floor, happy days were here again (for bulls). The positive divergence culminating on 6/4/12 bounced price off the bottom.  The indicators are very weak now (red lines) but not negatively diverged since price has not made a new high in relation to the 6/7/12 high. Once price makes or matches a new high above 1328, that should set things up properly and enable a negative divergence smack down to occur.

Also of interest is the thin black lines shown for RSI and money flow. Do you note a sideways vibe? The black lines show key S/R of interest at 1337, 1333, 1326, 1319, 1316, 1314 and 1307.  A sideways range may develop thru 1307-1337 this week as markets await the Greece elections. Most importantly, watch the 8 and 34 MA cross so you know what the VST market trend is, for now, bullish. 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.