SPX S&P 500 60-Minute Chart; 200 EMA Cross

The SPX drops under the 200 EMA on the 60-minute chart at 2354 signaling bearish markets for the hours and days ahead. The market bulls are toast if the S&P 500 remains under 2354 but the bulls will be fine if the SPX moves above 2354. Watch this number like a hawk over the next couple days.

The tight bands squeezed the move lower in this one-hour time frame. Price has violated the lower band so the middle band at 2369 and falling is on the table. The indicators want a bounce in price now but the weak and bleak MACD line wants another lower low after price bounces in this 60-minute time frame. Thus, a bounce would be expected in stocks for the first hour or two of trading on hump day, then back down to test the lows in price, then a more substantive recovery for a few hours.

The 2-hour chart shows weak and bleak chart indicators so it may take from 2 to 5 candlesticks to set up with possie d which would be 4 to 10 hours of trading time which is all of Wednesday and Thursday. Thus, a guess would be that the SPX may recover into Wednesday afternoon but then may roll back over to the downside for soggy  markets for a day or two.

The 200 EMA at 2354 is extremely important and tells you what you need to know concerning market direction. Bears win big with the SPX under 2354. Bulls win big above 2354. 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.