SPX S&P 500 30-Minute Chart with 8/34 MA Cross; S&P 500 Prints New All-Time Record High at 3699 a Whisker from 3.7K

The Keystone Speculator's SPX 30-Minute Chart with 8/34 MA Cross Indicator is another short-term signal that distinguishes a bullish stock market versus bearish. It can be played against The Keystone Speculator's SPX 60-Minute Chart with 200 EMA Cross. When both agree, like now, the trend is strong in that direction in the short term (minutes, hours, days, a couple-few weeks). The 8 MA is above the 34 MA on the SPX 30-minute so the bulls are in control in the short-term.

However, the 8 is only about 5 points above the 34 and both are moving sideways. It may not take much for the 8 MA to roll over lower and begin market mayhem. For this to occur, price would have to move below the 8 MA at 3675 to drag the 8 MA lower. Instead, the US Monthly Jobs Report is weak. Traders celebrate the pain and misery since it means the Fed and Congress will provide more easy money to keep the stock market afloat and the wealthy class happy. The SPX regains most of yesterday's late-day loss due to the Pfizer hiccup, then some.

Whheeeee! Whooopie! Whheeeee!. The SPX jumps to 3686.68 a new all-time record high; call it 3687. Sound the Seven Trumpets!! 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 11:11 AM EST: Wheee! Whoopie! How lucky we are to enjoy perpetual upside markets. The SPX is up 23 points, +0.6%, to 3689 with a new HOD and all-time record high at 3693.23. Keystone's 80/20 Rule says 8's lead to 2's so 3720 is on the table if the SPX closes above 3680 for a couple days. The 8 MA curls higher away from the 34 MA so the bulls cheer. However, neggie d remains on the hourly charts so the spankdown is expected, in fact, it may begin any minute. This is the point in the Jenga game where the whole tower collapses. The hopes for fiscal stimulus, after the jobs report miss, is the powerful force pulling equities higher. Pelosi, Mnuchin, McConnell and Trump plan their next steps forward. If they are going to announce a fiscal stimulus deal by year-end, time is running out, they had better sh*t or get off the pot.. 

Note Added 4:40 PM EST: Wheee! Whoopie! We are truly Blessed laying in beds of Fed, and Congress, largess. Traders are expecting Pelosi and McConnell to tap dance out onto the Capitol rotunda this weekend announcing a fiscal stimulus plan that will shower money down upon the masses. A glorious world of endless fiat money is always available. Moral hazard be damned. The S&P 500 catapults 32 points higher, +0.9%, to 3699.12 a new all-time closing high and 3699.20 a new all-time high, only 80 pennies from 3.7K. Sandy, the screen-printer, says he is working all weekend on the "SPX 3.7K" hats that will be on trading floors for Monday morning. He says he cannot keep the "Dow 30K" caps in stock. The US Monthly Jobs Report was a miss with 10 million and more people out of work due to the pandemic. The unemployment situation is worse than the Great Recession in 2008-2009. Traders dance, sing and  throw confetti on news that people cannot find work. It means the Federal Reserve will have to print more money which pumps stock prices higher. The wealthy elite class, that own the US stock market, dance with glee. So a double-whammy of stimulus joy, fiscal from Congress and monetary from the Fed, pump stocks higher. The Pfizer vaccine bad news yesterday is watered down to the point that it now sounds like good news. It is the silly season. Giddy, euphoric and fearless traders are laughing each day like chatty school girls buying stocks at the ask with reckless abandon. US dollar is testing 90.48-90.51 the last two days and it holds so far with the buck now at 90.85. Euro 1.211.