SPX 30-Minute Chart 8/34 MA Cross Negative Divergence

The 2-hour chart (previously posted) shows negative divergence developing, the 1-hour chart has negative divergence firmly across all indicators, and the 30-minute chart above is also negatively diverged. Thus, weaker price action is anticipated moving forward, especially after the 2-hour chart finishes setting up for the downside. The bears had the markets on a silver platter yesterday morning, ready to create the negative 8/34 cross, but alas, the politicians kicked the can down the road and the bulls were off and running, stampeding the bears sending the 8 MA vertical for another market stick-save (pink circle). The 8 MA is above the 34 MA signaling bullish markets for the hours ahead.

The 8 MA is at 1718.26 so the bears need to push price under this level to curl the 8 MA downwards for a potential negative cross. Bulls need to keep price above 1718. Bears got nothing unless they receive the go signal with the negative 8/34 cross. 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.