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.

Note Added 4:39 PM EST: Whoopsies, daisies. The SPX falls through the 50-day MA support at 7349 to a LOD at 7336, but is goosed in the last 15 minutes by the market makers that do not want it to finish below the 50, and price ends at 7358. The drama will continue. MU pops +12% in the afterhours trading so chips will be pumped tomorrow and the SPX will likely float higher. Banks are happy after the crony stress test results are released and the banksters trip over each other to bump dividends higher. Copper weakness is a serious negative for the stock market that carries clout. VIX pops to 20.54 today only a dime away from creating major selling, but then it relaxes lower again, unwilling to leave its warm and cozy bull bed with an 18 handle. Utilities are pumped this week to help the bulls. The SPX may head higher again for another look at 7418 due to the Micron, chip, bankster and utility joy. Bulls win above 7418 and win big above the 20-day MA at 7473. Bears win big below 7349. Between 7350 and 7417 is noise. Price begins Thursday trading at 7358.

Note Added Friday Morning, 6/26/26, at 4:49 AM EST: The SPX pops higher yesterday to test the overhead resistance at 7418, and the bears spank it back down holding the resistance. Price then falls likely headed for the 50-day MA at 7357 and voila, the SPX falls to 7357, and then falls through to a LOD at 7323. The bulls kept battling and pushed price back above 7357 and that fight continues into the closing bell where the SPX ended at...... wait for it ...... no, you really should wait for it a bit longer ........ 7357. The S&P 500 is making a bounce or die decision at the 50. If the 7357 support fails, and then the low at 7323 is taken out, the downside target range of 6970-7120 is placed on the table. Bulls need to bust up through 7418 and then 7473 to start singing praises higher. The bulls want to sing Good News, Chariots A Comin', but the bears want the wheels to fall off the chariot. In the 1960's and 1970's, trickling into the early 1980's, the song was a standard in high school chorus class that was mandatory for all kids. It appears that schools only offer chorus class as an elective nowadays. Jackasses. It should be mandatory. Chorus class was not just about learning to sing. It teaches social skills. Everyone is embarrassed singing in front of their classmates and do not want to be made fun of, but what you find is that once the giggles stopped, it was fun to sing as one big uniform group, and it boosted everyone's confidence. Just another reason society is in the crapper nowadays. The exact kids that probably should be taking chorus class to boost their confidence and social interaction, are not. Parents, encourage your kids to take that elective chorus class especially if you have a shy introverted child.

Note Added Sunday, 6/28/26: The SPX ends last week at 7354 with the 50-day MA at 7363 acting as overhead resistance. Bulls need the SPX above 7363 pronto or they will fall apart. The drama continues.