SPX 30-Minute Chart 8 and 34 MA Cross H&S Patterns

The bears push back on Friday and the 8 MA stabs down through the 34 MA to signal bearish markets for the hours and days ahead, however, the bulls have already curled the 8 MA upwards steering it back to the 34 MA.  Note that price, the 8 MA and 34 MA are all together, at the pink circle, at 1582-1584.  This is a great gauge of market direction for tomorrow. Bulls will be happy moving above 1584, bears will be happy moving under 1582.

There are two H&S's shown; the green H&S has head at 1593, neck line at 1579, target at 1565 if the 1579 fails.  The purple lines show an H&S with head at 1593, neck line at 1573, target at 1553 if the 1573 fails.  The hourly charts show the wider H&S in play with head at 1597, neck line at 1540, target 1480's, and this week we find out if the 1593 high shown on the chart above holds as the right shoulder for that H&S pattern. So there are three H&S's now in play. Watch 1584 and 1582 for a quick read on who's winning tomorrow, bulls or bears, and of course watch the 8 and 34 MA cross since it verifies the path ahead. 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.