SPX S&P 500 60-Minute Chart with 200 EMA Cross; SPX Is in Short-Term Bear Market that Is Being Tested at 7418

The SPX comes up for the critical back kiss of the 200 EMA on the 60-minute at 7418 the decider between a short-term bull market or short-term bear market. The previous chart from a few days ago explains this metric. Yesterday is a gap-down failure at the 200 at 7418. Price came up right away for a back test, that was successful for the bears, as price slumped over and remains soggy.

Today, price comes up for the back test at 7418 tapping on it a few minutes ago. It is time for the SPX to make a bounce or die decision. Flip that coin and call heads or tails. 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 11:05 AM EST: That did not take long. As the above was posted, the bulls punch up through the 200 at 7418 to a HOD at 7427. Woo-hoo. It's an orgy. Cough. Price comes back down to 7420. Watch it for the rest of the week. Bulls win above 7418. Bears win below 7418. The drama continues with price now at .... wait for it ...... wait a bit longer for it .... 7418. Copper remains weak and this creates a pall over the stock market.

Note Added 11:18 AM EST: SPX 7418. The Beat Goes On by Beady Eye.

Note Added 1:30 PM EST: Whoopsies, daisies. The SPX drops to 7349 with the 50-day MA at 7349. The back kiss of the 200 EMA on the 60-minute at 7418 was successful for bears. Price came up and tested the 7418, and then fell apart. The S&P 500 is now at the 50-day MA at 7349 and must make a bounce or die decision from here. Things will get ugly if the 50 fails.