SPX 30-Minute Chart 8/34 MA Cross

The 8 MA stabbed down through the 34 MA signaling bearish markets for the hours ahead. Will Lucy pull the football away from Charlie Brown the bear again? As seen from the negative cross back on 11/19/13, the bulls quickly reversed the negativity in a couple day's time. This has occurred over and over in recent months so if the bears can maintain the negative cross for more than 2 days, it would be a revelation. The pink circles show how the bears attempted 5 times to drive markets lower but the bulls would not allow the negative cross. Uncle Bernanke is always there to pay the markets off and send them higher. Today is a double Fed POMO pump day which is a happy wild card for bulls.

The red lines show the negative divergence spank down that created the top during the Friday shortened session. The indicators are all weak and bleak wanting to print lower prices even after a bounce occurs. Since this chart is 30-minute candlesticks, the anticipation would be at least 2 to 4 more candlesticks of time needed before any positive divergence should develop so equities may remain weak for the next couple hours, followed by some afternoon buoyancy that will shed more light on the direction forward. For now, the bears are driving the bus. 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.