The S&P 500 30-minute chart with the 8 and 34 MA cross is a key short-term trading signal. Days ago there was doom and gloom with the 8 MA dropping through the 34 MA and remaining below. Last week, the bulls tried to begin a rally but thwack, they were slapped down by the bears and the negativity thrived.
Last Friday, stocks became buoyant and a nice pop on Tuesday after the Monday holiday, and yesterday flat. As trading started for the week on Tuesday morning, 6/21/22, the 8 MA crosses above the 34 MA signaling upside fun in the VST (very short term).
The 8 remains above the 34 so the bulls are happy. S&P futures are up +26 points on Thursday morning a few minutes before the opening bell for the US daily session. The stock market rally will continue until the 8 drops below the 34. 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 Saturday, 6/25/22: The 8 MA remains above the 34 MA so the bulls remain in party mode. A tease occurs on Thursday threatening a negative cross but the Friday rally sends the 8 MA into the stratosphere. The stock market upside joy continues until the 8 stabs down through the 34 signaling an end to the bull party in the VST time frame.
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