SPX 60-Minute Chart 200 EMA Cross

"Houston, we have a problem." Worrisome words from the astronauts decades ago that are apropos when the SPX drops through the 200 EMA on the 60-minute, now at 1853.77. The negative cross signals bearish markets for the hours and days ahead. Bad things will happen to equities if price remains under the 200 EMA. Note how the bulls rallied the troops mid-month to avoid disaster. Can the bulls muster up the strength to move back above 1854 and higher and save the day frustrating bears once again? If not, the bulls will collapse into the hot oil caldron below.

The blue lines show key S/R at 1884, 1878, 1874, 1868, 1863.05 (20-day MA), 1859 (March began here), 1855, 1853.77 (200 EMA on the 60-minute), 1848-1851 support gauntlet (the year began at 1848) and 1841-1843 support gauntlet, the last stop to the low 1800's. The 50-day MA is 1833.81 would represent the bulls last stand, like Custer's Last Stand. The green lines created the positive divergence bounce off today's price bottom but the indicators never reached oversold levels and the MACD line prefers to see weaker prices moving forward a couple candlesticks, which is a couple hours time. Watch price in relation to the 200 EMA at 1853-1854. Bulls recover and breathe a sigh of relief above 1853. Under 1853, the bears rule the markets. 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 5:19 PM: SPX finishes at 1849.04 four and one-half points under the critical 200 EMA at 1853.66. The negative 200 EMA cross is an extremely bearish development. Tomorrow is critical to see if the negative 200 EMA cross remains, or not. If so, bad things will begin happening to markets.