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

The 8 MA should stab down thru the 34 MA at the opening bell. Watch this closely since it would represent a nail in the bull coffin.  The bulls rule when the 8 is above the 34 (green circles) and the bears are in charge when the 8 is under the 34 (red circles). Key S/R levels shown in black are 1433, 1413, 1406, 1403, 1391, 1375, 1366, and the low from a few days ago at 1434. The 1375-1391 sideways channel envelopes much of the price action over the last couple weeks. The Thanksgiving holiday sideways channel is 1398-1409 and today we see if price wants to collapse under. The 1391-1403 sideways channel may be a forward destination for price as well. Negative divergence spanked price down yesterday. Indicators are weak and bleak wanting to see further lows in price. The money flow should turn weak and bleak once the SPX moves lower after the opening bell. Look for the 8 and 34 cross as the day begins; bears will smile if the 8 stabs down thru the 34. 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.

Note Added 11/28/12 at 6:43 PM:  The 8 MA stabbed down thru the 34 MA at the opening bell so the bears were rolling along, however, as the day progressed, the 8 moved back above the 34 placing the bulls back in charge for the hours and days ahead.