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

The SPX 60-minute chart with 200 EMA cross is an excellent short-term market signal. However, like many other metrics, price is bouncing around unwilling to tip its hand. The crosses are typically cleaner like the 3/7/23 turn to the bear side for the ST. Over the last week, price crosses the SPX 60-minute chart 200 EMA at 3977 several times unwilling to commit to one direction or the other. It is an epic sword battle.

The low put/call ratios signal complacency and a top likely any day forward. Utilities have failed placing the US stock market in a crash profile currently which obviously means doom and gloom ahead on a substantive basis.

This morning, S&P futures are up +38 so Happy Days Are Here Again. A rally for a day or few would likely set up a nice top from where a big drop will begin. At 3971 to start today, the SPX will likely pop above 4K and even 4010. This will set-up the need for a back kiss since this 200 EMA is a very important ST metric. When price comes back down for the back test of 3977 (after this morning's pop) and the critical bounce or die decision occurs today or a couple days forward, the story will be told and price may finally commit one way or the other.

SPX 3977 and 3960 (12-mth MA) are two extremely important price levels you must watch closely to gauge the strength of stocks. The 50-day MA at 4013-4014 is the last chance for the bears to hold the bulls back. If the SPX overtakes the 50-day MA, an upside orgy will be underway.

Bears need a firm rejection at the 50-day MA resistance at 4013-4014 to prove that they still got game and plan to growl loudly. 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 9:50 AM EST: The SPX pops to the 50-day MA at 4014 so the critical test of this resistance is underway. Watch NYA 15065 and price pops up through to 15085. This is a big deal and signals big upside ahead if it holds. Watch NYA 15065 and SPX 4014.

Note Added 9:54 AM EST: The SPX is at 4014. NYA is at 15079.

Note Added Thursday Morning, 3/30/23, at 6:30 AM EST: The SPX pops up through the 50-day MA resistance at 4014, that now becomes support, rallying to 4027. The NYA breaks above 15065 triggering the upside buying orgy. NYA 15065 tells you if the bulls have oomph going forward, or not. Back tests will be needed at SPX 4014, SPX 3977 and NYA 15065 where bounce or die decisions will occur.