Wednesday, August 1, 2012

SPX 30-Minute Chart 8 MA Under 34 MA Bearish

The 30-minute chart with 8 and 34 MA cross is one of Keystone's turn signals. Reference the Turn Signal page on this site. Yesterday, at about 2 PM EST, the 8 stabbed down thru the 34 MA which signals bearishness for the days ahead.  Of course, if the 8 MA catapults bck up thru the 34 MA, on the Fed and ECB news, then the bulls will regain control.   Price has made a lower low over the last six days and the indicators are weaker as well, a weak and bleak profile.  However, the MACD histogram is flatish and the stochastics are positively diverged which would like to see some price buoyancy.

Watch this chart closely today to see if the 8 stays under the 34 MA, or not, and also if the stochastics remain positively diverged.  If SPX drops this morning, the stochastics can easily print lower nullifying any positive divergence and locking in further price weakness. 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.
Posted by at

4 comments:

  1. MCAPAugust 1, 2012 at 1:06 PM

    I take it you prefer the simple moving average to the EMA... I use the EMA 8/34 on the SPX 30MIN

    I see the 30 MIN as bull flag...

    http://scharts.co/OovXdK

    ReplyDelete
  2. Keystone SpeculatorAugust 1, 2012 at 2:08 PM

    EMA's did not cross yet, that is interesting because you would think they would have crossed before the SMA's. Perhaps you are on to somethign MCAP, Keystone has simply always used the SMA's for this indicator. Probably will continue that way since the archived data is all set up that way. That will be interesting to see if the EMA cross occurs.

    if a bull flag, which it may be, the second leg would likely start lower at 1375-ish, so it may be a sharp down move to say 1372 then load long for a ride up to top things (if the bull flag plays out).

    ReplyDelete
  3. MCAPAugust 1, 2012 at 3:48 PM

    here is a big tick I'm having a limit out day did well so enough is enough I want get short looking for reasons now to do so...

    Europe aint got nothing...

    ReplyDelete
  4. traderbobAugust 2, 2012 at 4:09 PM

    great site donation comming your way!

    ReplyDelete

Note: Only a member of this blog may post a comment.

Subscribe to: Post Comments (Atom)