SPX S&P 500 60-Minute Chart with 200 EMA Cross; Sideways Symmetrical Triangle; Big Decision on Tap as Government Funding Deadline Approaches

The 200 EMA on the SPX 60-minute chart at 4463 is a key VST and ST market signal and the battle continues. Stocks jump higher at the opening bell because the dollar drops. The SPX jumps to 4475 to begin the week so now it is back on the bullish upside.

The blue sideways symmetrical triangle pattern is in play. Price will break out one way or the other going forward. The apex of the triangle hits at the end of this month when the deadline occurs for funding the US debt for America's crony capitalism system. The thick vertical bars are potential price moves out of the triangle which are 280 points and 200 points so one side will be very happy going forward and one side very sad. One pill makes you larger, and one pill makes you small. Go ask Alice.

Price pops to 4475 as mentioned and note that the upper trend line of the triangle is at 4490-ish, you can call it 4480-ish, too, so price is teasing the breakout higher. A pop above 4490 will target 4690+ while a collapse out the bottom of the triangle will send price from 4400 to 4200 and lower.

Use the 200 EMA as the rudder steering the stock market directional ship. A price break above 4480-4490, which will be above the 200 EMA at 4463, signals a euphoric bull party ahead. A price move below the 200 EMA at 4463 and then collapse through 4400 portends pain and misery ahead with blood flowing on Wall Street. Choose your poison.

Let's see. After nearly one-half hour of trading for the new week, the SPX is at 4478 with a HOD at 4491 and the 200 EMA on the SPX 60-minute is 4463. The stage is set and the drama continues. Obviously, the bulls are trying to poke up through the sideways triangle to signal a big party ahead. The bears are fortifying the 4490-ish level stacking sofas, tires, bicycle racks and chairs on the line trying to prevent further upside. 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 9/14/23, 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.