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Thursday, March 7, 2013

SPX 60-Minute Chart 200 EMA Cross Bull Flags Negative Divergence

SPX 1-hour chart shows price well above the 200 EMA so bulls are cruising since late February. The blue bull flag targets 1541 which is achieved. The pink bull flag targets 1551. The red lines show negative divergence in place. The 2-hour chart is negatively diverged as well so market weakness would be expected moving forward, so the afternoon will be interesting. 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.

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