The Daily View for S&P 500
- At the time of this writing, SPX’s price is up 37.65 (0.85%) from the day prior.
- S&P 500 has seen its price go down 12 out of the past 14 days, thus creating some compelling opportunities for bears.
- From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
- Regarding moving averages, it should first be noted that price has crossed the 20 day moving average, resulting in them with price now being above it. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
Below is a daily price chart of S&P 500.
Featured S&P 500 Idea From TradingView
Below is a trading comment entitled AAPL, Crucial Structure, Over -25% Drop Not Unlikely! you may find interesting:
Hello, Welcome to this analysis about AAPL and the 2-day timeframe perspectives. The stock market is moving into more and more overbought conditions seen in the major indices like the S&P 500 or the DOW JONES INDUSTRIAL as the printing press is still moving exponentially since last years corona pandemic shocked the world’s economy, now given this we can measure that these are unhealthy developments as inflation is taking place and is at a point the last time seen in the 2008 financial crisis, this just is fueling the market with inflationary money and bringing the asset-price-inflation forward we see now however this can not go on forever, there is a correction insight and in AAPL I detected the technical signs in the relation now. When looking at my chart we can watch there how AAPL has emerged with this massive ascending-wedge-formation which is in many occasions a formation defining a bearish reversal to the downside and therefore should not be kept from the desk here especially as AAPL reached an overbought condi…