SPX 30-Minute Chart 8/34 MA Cross

The 8 MA remains above the 34 MA on the 30-minute so the bulls are in charge for the hours ahead and continues slapping the bears around. Last Friday at the lows, 10 or 12 candlesticks ago (5 or 6 hours), the long and strong indicators were highlighted (green lines) so price wanted to come back up for another look at the highs and prints above 2070 today but not yet at the prior all-time high at 2071.46, but very close.

The Friday spank down is created by the overbot stochastics (red line) and negative divergence with the stoch's but the other indicators wanted higher highs. Price is now trying to hold the bottom rail of the red rising channel at 2068. Price should continue higher to print the 2071-2072 level which would actually help the bears since if price came up for this matching or higher high with the indicators negatively diverged (as the thin red lines show) that would identify the near term top. For now, the bulls are in charge. Bears need the SPX under the 8 MA at 2067 to curl the 8 MA lower for a potential negative 8/34 cross, otherwise, bears got nothing. Bears will rejoice if the negative MACD cross occurs. 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 7:20 AM on Tuesday, 11/25/14: The SPX prints another new all-time closing high at 2069.41. HOD for Monday is 2070.17.