SPX 30-Minute Chart 8 MA and 34 MA Cross

The action picks up for this chart where it left off yesterday. The 8 and 34 MA's are duking it out to decide who will lead the markets forward.   We saw the 8 MA poke above the 34 MA yesterday morning to signal bullish markets for the hours and days ahead. The 8 remains above the 34 but anything can happen today in these shaky markets. The sideways channel thru 1450-1465 has been in play all year long thus far, price poked above today and now tests the strong 1468 resistance. Above that is 1472, then the intraday high from 2012 at 1475. The red lines show negative divergence in place but the RSI and MACD line are showing some long and strong VST strength, thus, price should jog across this area to allow time for negative divergence to form across all the indicators to create a roll over. The 1-hour and 2-hour charts are showing negative divergence. Watch the 8 and 34 MA cross since it will point the way. 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.