Stock chart patterns and technical analysis (TA) explained simply. Disclaimer: This blog and all its contents are for educational and entertainment purposes only. Do not trade or invest based on any information seen on this blog. Please read Terms of Service. The K E Stone blog sites (Keybot the Quant) are blacklisted by Google, so enjoy the ad-free experience, and only use the Donate button when supporting the sites.
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Thursday, August 23, 2012
SPX 30-Minute Chart 8 MA and 34 MA Cross
You know the drill, watch the 8 and 34 MA cross today. The bears took control at 2 PM Tuesday afternoon and remain in control of the markets unless the 8 MA moves back above the 34 MA. SPX 1406, 1403 and 1399 are important support levels. Use the 1406-1413 range and 1413-1419 range as a guide forward. The opening bell just rang. SPX is at 1410 in the opening minutes so see which side of the 1406-1413 that price will exit today. That side will have street cred moving forward. 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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