Keystone's SPX 30-minute Chart with 8 MA and 34 MA Cross

The 8 MA crossed down thru the 34 MA during the last hour of trading. This signals bearish markets for the hours and days ahead.  Each candle is thirty minutes of trading time.  The bulls have been driving the bus since the cross occurred in their favor on Monday. Today the cross occurs in favor of the bears.  Tomorrow's opening bell action is extremely important. The only way the bulls can reverse the cross and start the 8 MA moving immediately upwards is if the SPX price bounces strongly higher at the bell. So the first half hour of trading will be important. If the 8 stays under the 34, the bears are driving the bus.

The 200 MA is of interest; note the respect that price showed this moving average about a week ago.  The launch this week on Tuesday stabbed directly up thru the 200 MA so a back test of this level would be prudent, and it happens to be the strong support/resistance level at 1447.  Key levels are 1465.77 (the closing high for this year thus far), 1460-1461, 1457, 1453, 1447, 1444 and 1440. Price may want to play around the 1460-1461 area in Friday's trade. The two lows today were placed with the MACD line, stochastics and money flow (weak and bleak) all wanting to see lower lows in price, so that opens the door to the 1453 level.  The sideways channel thru 1453-1461 is in play for three days.  Projection is for the 8 MA to remain under the 34 MA sending price lower to test 1453, then down to test 1447. 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.