SPX 30-Minute Chart Sideways Symmetrical Triangle 8 MA and 34 MA Cross

Lots of drama surrounding this chart. That is understandable since it is determining the fate of the markets.  The 8 MA is only 19 pennies above the 34 MA and favoring the bulls. If the 8 MA falls thru the 34 MA tomorrow, the market bears take control of the markets for the hours and days ahead. Note how price and the MA's have now squeezed out into a sideways symmetrical triangle where a decision will occur tomorrow morning.

The vertical side of the blue sideways triangle is about 16 points. Two will enter the cage match tomorrow, but only one side will emerge victorious.  If the 8 MA stays above the 34 MA, that means the SPX price is breaking out of the triangle to the upside and will target 1418.  If the 8 MA stabs down thru the 34 MA, that means the SPX price is collapsing out of the sideways triangle and will target 1386. As the action proceeds, watch the 50% levels, and zero level for the MACD, to verify the direction the SPX chooses.  Tonight, we rest, tomorrow, the battle begins and one side or the other will run the flag up the hill to victory. 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.