SPX 30-Minute Chart 8/34 MA Cross

The 8 MA is under the 34 MA signaling bearish markets for the hours ahead, however, the 8 MA is moving higher and SPX price is above pulling the 8 MA higher trying to set up the positive 8/34 cross to place the bulls in charge. Obviously, the Monthly Jobs Report number a few minutes away will set the market tone. The green lines show long and strong indicators with the last price high 90 minute ago so price will want to come back up to that 1952 level again. The 1951 level is very strong S/R. 

The 150-day MA is 1928.05. The 100-day MA is 1958.78. The 20-week MA is 1963.97. The 50-day MA is 1975.16 and will need back kissed at some point forward. The 200 EMA on the 60-minute, a critical bull-bear line in the sand, is 1980.43. Combining these levels with the horizontal S/R levels identifies key support and resistance levels at 1988, 1985-1986, 1980, 1973-1975, 1964, 1959-1961, 1951-1952, 1928 and 1924-1926. Watch the 8/34 cross since it tells you which side is winning for the hours ahead. 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 9:07 AM: The Monthly Jobs Report was bull-friendly up 248K jobs and a 5.9% unemployment rate. S&P futures +11 so the SPX may target 1957-ish after the opening bell. That is between the 1951-1952 S/R below and 1959-1961 S/R above. So the fight begins at 1959-1961 overhead resistance and price plans to attack the important 100-day MA resistance at 1959. Remember, the market bottoms and bounces over the last couple years have occurred from the 100-day MA.