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

A key Keystone market signal for the short-term is the SPX cross of the 200 EMA on the 60-minute chart. It dictates the path ahead for the stock market for the hours and days ahead.

Whoa, wow, look at that. The SPX explodes above the 200 EMA on the 60-minute at 2772. The bulls are throwing confetti and drinking Fed wine buying stocks at the ask. The bulls are unstoppable above 2772. There will be a back kiss so watch when that occurs to see if price will bounce or die. A bounce and it will be off to the races higher. A spankdown from 2772 and the bears begin to flex their muscles again.

The SPX left a gap behind big enough to drive a truck through at 2680-2700. That will need filled in the future. If price comes down to 2700, and then gaps back down to 2680 and lower, that would create an island reversal stock market pattern.

The stock market is in a cyclical bull market pattern above the 12-month MA at 2753. Bears got nothing over the weeks and months ahead unless they push the S&P 500 under 2753; that is where the carnage begins.

Key moving averages;
20-week MA = 2820
100-day MA = 2819
150-day MA = 2781
200 EMA on the 60-minute = 2772
200-day MA = 2763
50-week MA = 2755
10-month MA = 2755
12-month MA = 2754

Look at that confluence of key support at 2754-2755. That is the most important level to the stock market since it separates the cyclical (weeks and months) bull market versus the cyclical bear market going forward. For the near-term, watch SPX 2772 as the rudder determining stock market direction. 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 9:59 AM EST: The SPX is at 2779. HOD 2788. LOD 2774.

Note Added Thursday Morning, 11/8/18 Before Opening Bell: The SPX is at 2814. Equities melted-up yesterday afternoon after President Trump's press conference. Price blew through the moving averages listed above and bumps its head on the 100-day MA at 2820 and 20-week MA at 2822. The next battle on the top side is 2820-2822. The SPX recovered from the 12-month MA which is the stock market cliff edge. The stock market is now back in a cyclical bull market pattern. The SPX will likely test the key 2754-2758 area again and make a critical bounce or die decision for all the marbles. If the S&P 500 can remain above that 200 EMA on the 60-minute at 2774, the bulls are on easy street and stocks will remain happy.This 200 EMA will receive a back kiss, perhaps today, from which price will bounce or die. A failure at 2774 opens the door for price to head back down to the important 2754-2758 support.