SPX 30-Minute Chart 8 MA and 34 MA Cross

Watch the 8 MA and 34 MA cross on the 30-minute chart today. The cross teased the bears right before Draghi's bazooka fired, then again right before Bernanke's bazooka fired. The 8 MA is curling back down so today may provide some drama.  The early Friday morning top at 1474.51 resulted in negative divergence by the stoch's and the RSI, as well as the rising wedge and overbot conditions, creating the spank down.  Note, however, the thin green circles that show the MACD line, histogram and ROC want to see a test of that 1475-ish level. If price moves up to perform that test today, check to see if negative divergence is in place, or not.  A cross of the 8 MA donw thru the 34 MA would put the bears in the drivers seat. If the 8 stays above the 34, the bulls will continue driving the bus forward.

The market bears need 1460 to start an accelerated downside run today but the futures are only slightly red.  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.