SPX 60-Minute Chart 200 EMA Cross

The SPX is above the 200 EMA on the 60-minute at 2037 signalling bullish markets for the hours and days ahead. The positive cross occurs as February begins and remains in play. The market bears are trying to push price lower to create a negative cross. Bears got nothing unless the SPX falls under the 200 EMA. The 8 MA is under the 34 MA on the SPX 30-minute chart (see previous chart) signaling bearish markets for the hours ahead. So one of these two is wrong. Either the chart above turns bearish confirming market downside ahead, or, the 8/34 MA cross on the 30-minute will turn positive which will signal the all-clear for bulls again. Watch today to see which one flinches.

The red lines show the neggie d spank down and the green lines show the possie d launch. The indicators remain weak and bleak (short red lines) so lower lows in price would be expected setting up a potential challenge of the critical 200 EMA at 2037 for a critical bounce or die decision that will choose the market direction forward. The stochastics are bottomed in oversold territory so this will create an initial bounce in price, then after a couple candlesticks (an hour or two), price should come back down for a lower low. Price will not recover to the upside until the indicators positively diverge (unless a wild news event occurs such as  a resolution to the Greece bailout renegotiation which would probably send stocks strongly higher; or even a truce for the Ukraine civil war).

The falling neon blue wedge pattern targets the critical 200 EMA support where a critical decision would occur. If the news about Greece is bad, then the SPX will likely collapse down through the 200 EMA giving the bears the nod. Keep an eye on the two indicators described in the first paragraph since they will tell you the market answer 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.