SPX 30-Minute Chart with 8 MA and 34 MA Cross

The bulls took over control on Monday afternoon when the 8 MA crossed above the 34 MA to signal bullish markets for the hours and days ahead.  The red lines show the negative divergence that Keystone mentioned late day yesterday on the 2-hour, 1-hour, 30-minute and other minute charts. Prices are printing matching and higher highs but the indicators are all negatively diverged so some market weakness will be required moving forward. As always the most important item on the 30-minute is the 8/34 cross so watch to see if the 8 MA rolls over and heads down to the 34 MA, or not. For now, the bulls rule the roost.

The blue lines show key support at 1460-1461, 1444, 1444, 1435, 1433, 1419, 1416, 1413, 1409, 1406 and 1403. The negative divergence indicates selling ahead into the FOMC Minutes at 2 PM today. 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.