SPX 30-Minute Chart 8/34 MA Cross

The sideways channel continues with 1848-1852 serving as the downside rail and 1884-1891 as the upper rail. Bears win under 1848-1852. Bulls win above 1884-1891. The 8 MA is under the 34 MA signaling bearish markets for the hours ahead. This is in disagreement with the 60-minute chart signaling bullish markets for the hours and days ahead with the positive 200 EMA cross. One of them is wrong. Either the 200 EMA cross on the 60-minute will turn negative for happy bears, or, the 8/34 cross above will turn positive for happy bulls. This decision tells you the market direction ahead.

The indicators are lining out sideways not wanting to tip their hand. Price will continue sideways making decisions at the critical S/R levels at 1884, 1878, 1874, 1868, 1859 and 1848. 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 9:12 AM on 5/6/14: The bulls fight back yesterday and send the 8 MA above the 34 MA in the final minutes of trading. Bears have one chance, at Tuesday's opening bell, to reverse the upside thrust and stop the positive 8/34 cross. If not, the bulls are on easy street heading strongly higher.