SPX 1-Hour Chart 200 EMA Cross

The 200 EMA at 1618.75 is uber important and determines if markets are in a VST bear or bull move for the hours and days ahead. The SPX is under the 200 EMA signaling bearish markets ahead. This 1619 is inside the important 1618-1623 resistance gauntlet (black lines) and is likely more important than the 20 and 50-day MA's. If the bulls can push back up through 1619, the 20 and 50-day MA's will likely fold like a cheap suit and price will likely punch up through the 1618-1623 gauntlet. Thus, Keystone views the 1619 level as the key level determining the fate of the broad indexes.

A tweezer top candlestick pattern identified the top on Thursday morning, which was also a successful back kiss of the 200 EMA by the bears. The indicators are weak and bleak pointing to lower prices ahead. Watch to see if the RSI loses the 50% level which would be another feather in the bear's cap. The 1619 R is key. Also of interest is the sister signal to the 200 EMA cross described above which is the 8 and 34 MA cross on the 30-minute chart, which currently is bullish. The 30 and 60-minute chart signals must agree and that agreement will point the market direction forward, either the SPX punches above the 200 EMA on the 60-minute chart to agree iwth the 30-minute chart to give the bulls the nod, or, the 8 MA stabs down through the 34 MA on the 30-minute chart to agree with the 60-minute chart above to signal that the bears rule moving forward. 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.