SPX 30-Minute Chart 8/34 MA Cross

The 8/34 MA crosses illustrate the ongoing market indecision. The 8 MA is below the 34 MA signaling bearish markets for the hours ahead, however, a bounce is on tap to start September today, so the 8 MA may pierce up through the 34 MA placing the bulls back in charge. The thin blue lines show a sideways vibe in place in this 30-minute time frame. Important resistance above is 1639, 1649, 1652, 1661 and 1669. The big gap at 1652-1657 will likely need filling at some point forward. Watch the 8/34 cross since that steers the ship in the hourly and minute time frames. 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.

Note Added 2:16 PM:  The bulls created a positive 8/34 MA cross today signaling bullish markets ahead, however, the bears and bulls are fighting it out right now and the cross can go either way into the closing bell. The markets opened strongly higher but collapsed after Speaker Boehner announced support for a strike on Syria.

Note Added 2:36 PM:  The 8 MA is down through the 34 MA in a more decisive manner indicating bearish markets for the hours ahead.