SPX 30-Minute Chart 8/34 MA Cross

The 8 MA remains above the 34 MA signaling bullish markets for the hours ahead, however, the 8 MA is dropping sharply and may create a negative cross in the hour or two ahead. If the bull's want to prevent this from happening, they need to spike the SPX price pronto. So if you see the SPX rise, price will likely print and top out in the rosy red circle on the daily chart previously posted. If the bears can maintain selling pressure today, the negative 8/34 cross occurs and the path is lower for stocks moving forward. Since the 8 MA is dropping so sharply, the bulls have to jam markets higher immediately, without delay, or the bears will growl going forward. The SPX is printing 1970 recovering off the 1965 low a short time ago. Watch the 8/34 cross since it tells you who wins today. 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 12:39 PM:  SPX 1971. VIX 12.06. (Bears need VIX above 13 to create market mayhem). TRIN is 0.79 very bullish for today giving the nod to the bulls and hinting that equities should recover into the afternoon.

Note Added 12:41 PM:  SPX 1972. VIX 11.93 and TRIN 0.77 so the bulls are pushing stocks higher trying to prevent the negative 8/34 cross described above.

Note Added 9:00 AM on 7/16/14: The bulls recovered yesterday as the low TRIN signaled. The 8 MA is 1973.10 and the 34 MA is 1973.22 so the bears are winning by a tiny hair. However, S&P futures point to a strong opening of about +9 so the 8 MA is going to pierce up through the 34 MA to signal bullish markets for the hours ahead. The seasonality bullishness likely helps since Tuesday to Wednesday is typically bullish during OpEx week and the two-day Fed meeting is typically bullish for markets 80% of the time. Perhaps a market top will be placed either later this afternoon or in the Thursday session. The bulls are set to throw a party to begin the Wednesday session.