SPX 30-Minute Chart 8 and 34 MA Cross

Here is one of Keystone's fave tools for forecasting the hours and days ahead. The bulls maintain control with the 8 MA above the 34 MA. For four days the 8 and 34 are moving parallel with the 8 above the 34.  Bears have no hope unless the 8 stabs down thru the 34. The red lines show the negative divergence spank down after yesterday's opening bell. The neon green lines, however, are more agreeable to some further price buoyancy. With futures higher at this writing ahead of Tuesday's session, perhaps an opening bounce will satisfy the needs of the neon green lines.  The bears should actually root for a move higher, perhaps into the purple circle, that would back kiss the green trend line, and also print a matching or higher high. This would then lock in negative divergence if the purple lines remain sloping down once the price high occurs this morning. So watch all this closely.

The black triangle highlighted a few days ago played out with a price breakout to the upside. The vertical side of the triangle is about 10 or 15 handles which took price from 1411-ish up to 1422-ish satisfying the triangle pattern. Simply watch to see if the purple lines lock in with negative divergence, or not.  Projection would be for a price move to the purple circle then roll over. The most important thing to watch on this chart is the 8 and 34 MA cross. 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.