SPX 30-Minute 8/34 MA Cross

The 8 MA remains above the 34 MA signaling bullishness for the hours ahead, however, the 8 MA is curling downward towards and upward-sloping 34 MA for a potential negative cross today. Bears got nothing until they receive the negative 8/34 cross. Note how the bulls always spoil any bear joy as they did for the potential negative crosses on Friday, 8/15/14, and Friday 8/22/14. Will the bears finally receive a turn at bat? As long as the SPX price continues to trend lower under the 8 MA at 2001.60 the 8 MA will continue lower.

The red rising wedge, overbot conditions and negative divergence (red lines) place the tops on Monday and yesterday. The indicators remain weak and bleak across the board so lower lows in prices are expected. The S&P futures are up +2 about 3-1/2 hours in front of the opening bell. The pink box shows the ADX above the mid-20's indicating a strong trend higher for price, however, on Friday the ADX drops under 25 and moves lower down to 13 showing that the strong uptrend is over. The market bears need the SPX price to continue leaking lower and the ADX to move above 25 to show that a strong downtrend is in place. If the SPX moves lower in price but the ADX remains under 25, the down move has no bones to it, and the bulls will likely retake control.

The stochastics drop under 50% which will create more negativity. Bears need the RSI to drop into bear territory under 50. A reasonable assumption today is for price to continue falling and the 8/34 negative cross to occur favoring the bears for the hours ahead despite the higher futures currently. Watch the 8/34 cross since it tells you the market direction forward. 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 12:37 PM:  The 8 MA slices down through the 34 MA signaling bearish markets for the hours ahead as long as the bears can maintain the negative cross.