SPX 30-Minute Chart 8 MA and 34 MA Cross

The 30-minute with 8 and 34 MA cross is is one of Keystone's fave charts to monitor, which is updated on the Turn signal page as time moves along.  The 8 MA stabbed down thru the 34 MA last Monday morning indicating that the bears were in charge for the hours and days ahead.  Note the tease last Thursday where the bulls launched a run higher, and the 8 almost moved up thru the 34, but, alas, the 8 MA collapsed once again. It does have a tiny curl on it right now which hints at some buoyancy ahead.  The green falling wedge, and positive divergence (green lines) for the indicators bounced price around lunch time on Friday but note how the histogram is not too thrilled about price recovering, neither is the money flow. Looking at the RSI and money flow indicators, the sideways vibe is very apparent.  This hints at some sideways action ahead.

SPX 1433 is very strong S/R.  Ditto the 1440-1441 level; remember, 1440 is the 200 EMA on the 60-minute chart.  1424 is strong support underneath.  So watch the channel thru 1424-1441 with the 1433 telling you who has the edge.  And, of course, watch the most important reason for this chart, the 8 and 34 MA cross. As long as the 8 stays under the 34, the market bears rule.  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.