SPX 30-Minute Chart 8/34 MA Cross Tight Bands

The 8 MA is above the 34 MA on the 30-minute signaling bullish markets for the hours ahead. The FOMC Rate Decision occurs within the hour and the standard deviation bands are squeezing in for a big move one way or the other (green oval). The red lines indicate negative divergence which wants to see lower prices in this time frame but anything can happen considering the Fed decision.

Today the bears sent the SPX lower to curl the 8 MA downwards but the bulls are roaring back negating any hopes of a negative 8/34 cross. Bears need the 8/34 cross or they got nothing. S/R is 1891, 1884, 1882, 1878, 1874. April began at 1872.34 and today is the last day of the month, EOM, so the bulls will print another positive month unless price is driven lower over the next couple hours. 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 9:18 AM on 5/1/14: The bulls win out yesterday keeping the 8 MA above the 34 MA and also the tight bands are squeezing out a vertical move higher in this 30-minute time frame. This new thrust may last a couple days which would take stocks higher into the weekend, however, markets remain very susceptible to news flow. The Ukraine situation continues to deteriorate and the Monthly Jobs Report is tomorrow morning. SPX price stalled at the strong 1884 resistance but any move up through 1884 targets the 1891 level next.