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

The SPX 60-minute chart with 200 EMA cross is a key VST (very short-term) trading signal. Price respects this line in the sand as shown by the back kisses in recent days, and price is unable to push above until now.

Yesterday, price explodes higher as traders and investors believe the Federal Reserve may be done hiking rates. Traders and investors are tripping over each other to buy stocks at the ask believing that equities will rally bigtime since rates will no longer increase to stifle the economy.

The SPX catapults higher in an upside orgy so obscene it would make Caligula blush. Price leaps up through the 200 EMA on the 60-minute at 4448 like it wasn't even there (actually, you can see how price stuttered exactly at the 200 for an hour before it then jumped higher). Price made the bounce or die decision at the back test of 4448 and bounce was the outcome with bulls throwing confetti.

Since the key 200 EMA is so important, price will need to come back down to 4448 for a back kiss to show it respect and to make another bounce or die decision. 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 9/7/23 at 8:52 AM EST: There's the back kiss. The SPX drops yesterday to 4442 and closes at 4465 sitting on the 200 EMA on the SPX 60-minute chart at 4464. Price is making the bounce or die decision at this critical line in the sand and by the looks of the S&P futures down -30 points this morning (the regular session opens in one-half hour), die appears to be on the table.

Note Added 9/11/23 at 10:10 AM EST: The SPX continues the battle above and below the 200 EMA on the 60-minute at 4463. Price is now at 4475. It will make a decision this week.

Note Added 9/14/23, Thursday morning, at 8:35 AM EST: The SPX is at 4467 and the 200 EMA on the 60-minute is at 4465. The tension mounts.