SPX 30-Minute Chart 8/34 MA Cross Sideways Channel

The 8 MA is under the 34 MA signaling bearish markets for the hours ahead. Note how the bulls always foil the bears reversing the negative cross within a day or two so the stakes are high for today's session. Can the bears finally develop some downside mojo or will they fold like a cheap suit again? Price is above the 8 MA at 1788.36 so this will pull the 8 MA higher for a potential positive 8/34 cross. Bears must drive price under 1788.36 to move the 8 MA lower and maintain the negative cross. The brown sideways channel shows price moving through 1782-1808 for the last 3 weeks. The rising wedge and negative divergence (red lines) created the spank down at the end of November.

The green lines create the positive divergence bounce yesterday. Price now staggers with a sideways vibe heading into Thursday. The SPX is above the 200 EMA on the SPX 1-hour chart at 1777.07 signaling bullish markets for the hours ahead. (reference this chart in the next post). This 200 EMA signal must resolve with the 8/34 signal above. Either the 8/34 positive cross occurs signaling happy bullish markets ahead, or, the 200 EMA on the 60-minute will fail verifying extended market downside ahead. Watch the 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.