SP500 2 hour chart now

The 2 hour trend is still down. The index has hit the falling green 21 MA but bounced back. This MA will continue to fall at least until 14:00. The blue 8 MA is slightly up and will get stronger on upside soon. For a the trend to change upwards the 8 MA must cross the 21 MA and this MA must turn up within a few hours after the cross.

So  now the 21 MA is the resistance and the 8 MA the support as long as it is moving on upside. I expect late afternoon to be interesting for the choice of trend.