SPX 30-Minute Chart 8/34 MA Cross Inverted H&S

The 8 MA pokes above the 34 MA signaling bullish markets for the hours ahead. This is in disagreement with the 200 EMA cross on the 60-minute chart so one of them will flinch and join the other to firmly identify the path ahead. The green lines show long and strong indicators that want higher highs for price for several candlesticks ahead. The blue lines show an inverted H&S with the neckline at 2013 and head at 1973 so a target of 2053 is projected at the strong 2054 and 2057 resistance levels. The gap fill is at 2032-2035.

Bears need to create a negative 8/34 MA cross or they got nothing and cannot begin to do this until the SPX prints below the 8 MA to curl it downwards. Follow the resistance levels below to see how many levels the bulls can attain and see where price may stall.

Key support/resistance is 2067, 2065, 2057, 2054, 2047 (20-day MA), 2046, 2040 (very strong overhead resistance), 2032, 2030 (200 EMA on the 60-minute), 2024, 2018, 2011, 2002-2003, 2003 (50-day MA), 1998, 1995 (20-week MA), 1988 (100-day MA), 1985-1986, 1978, 1975 (150-day MA), 1973, 1968, 1964, 1964 (10-month MA) and then an air pocket to 1951. 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.