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.
Wednesday, November 7, 2012
Keystone's SPX 30-Minute Chart 8 MA and 34 MA Cross Indicator
The 8 MA remains above the 34 MA on the 30-minute chart so the bulls are driving the bus. The 8 MA has started to curl over so watch to see if it flips sides today, or not. The red lines show negative divergence but there is still a hair of positivity desired by the RSI and money flow. The black lines in the margin are a possible path with price falling at the open but recovering higher to satisfy the RSI and money flow, then roll over. Otherwise, perhaps the downside is explored steadily today. Volatility keeps inching higher in recent days which will cause larger intraday and day-to-day point swings for the broad indexes. The bulls are in control for this indicator to start the day. Watch closely to see if the 8 falls back under the 34, or not. 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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