SPX 30-Minute 8/34 MA Cross

The opening bell is important today. Price, the 8 MA and 34 MA are all on top of each other at 1706-1707 so a decision is required. Will it be another bear kick in the pants as all the other pink boxes show, or, will the bears finally launch some negativity today? The negative 8/34 MA cross was prevented four times in the last five days frustrating the bears. Makes you wonder how the markets will react when the 8/34 cross does occur. Doesn't it? The indicators and price action take on a sideways vibe but should provide an up or down decision today.

For now, the 8 MA is above the 34 MA signaling bullish markets for the hours and days ahead. If the bears can push the SPX under the 8 MA at 1706.83, this will curl the 8 MA to the downside to create the negative 8/34 cross. Bulls obviously need to keep price above 1706.83 and heading higher. Futures project a couple point drop on tap at the opening bell, as this is typed, so this would favor the bears and the negative 8/34 cross, however, drama will likely continue during the morning hours as price makes a directional decision 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.