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

The chart shows the higher high in price after the Fed announcement yesterday which results in overbot conditions (RSI over 70%; stochastics over 80%) and negative divergence (red lines) so the spank down occurs into the close.  The outlook is weak and bleak with the indicators continuing to slope lower. The 8 MA is above the 34 MA which signals bullish markets for the hours and days ahead, however, the 8 has now curled over and may converge on the 34 MA for a cross today. Watch this tool closely to see if the 8 MA stabs down thru the 34 MA which would place the bears back in the driver's seat. The bulls have been in charge for over a week, since 12/5/12, and need a strong market boost higher to keep the 8 above 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 12/13/12 at 2:12 PM:  The 8 MA stabbed down thru the 34 MA at 11:00 AM EST signaling bearish markets for the hours and days ahead. Watch to see if the 8 stays below the 34.