SPX 30-Minute Chart 8 MA and 34 MA Cross Overbot Rising Wedge Negative Divergence

Day after day we have watched the negative divergence form but once the spank down occurs the bears do not have the juice to run things lower and price recovers.  Here is the 30-minute intraday. The bears got nothing with the 8 MA above the 34 MA which signals that the bulls rule for the hours and days ahead. However, note the firm negative divergence now in place across the board desiring a spankdown which should hold a bit more promise for bears.  The 8 MA would have to curl over to the downside for starters and this can only happen if the SPX stays under the 8 MA, now at 1492.14.  So bears really got nothing unless price falls under 1492.14. This afternoon should be interesting. Note the Tweezer Top this morning. 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.