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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Tuesday, September 25, 2012
SPX 30-Minute Chart Sideways Triangles
Watch the 8 and 34 MA cross today. The bears are driving the bus with the 8 under the 34. Price appears to be moving sideways into the apex of the sideways triangle so a decision is coming, likely in concert with Spain providing either a thumbs up, or thumbs down, Caesar style. Note the wide sideways channel at 1450-1475 and the tighter channel at 1453-1466. Moves from these channels are important. 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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