Is SPX’s Trend Waning? Oscillators Suggest So

News Releases Impacting S&P 500

  • Forecasted Core Inflation Rate YoY in United States: 6.6%. The previous number: 6.4%. (3.12% difference between the two.)

The Daily View for S&P 500

  • At the moment, SPX’s price is down -57.52 (-1.26%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • As for the trend on the daily timeframe, we see the clearest trend on the 20 day timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 100 day moving average, resulting in them so that price is now turning below 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.
  • Divergence alert: Trend in SPX’s price and its RSI are diverging. SPX’s price is rising slower than its RSI.

Below is a daily price chart of S&P 500.


Featured S&P 500 Idea From TradingView

Below is a trading comment entitled GOLD: FUNDAMENTALS+TECHNICAL ANALYSIS | SHORT SETUP 🔔 you may find interesting:

Gold price remains choppy within a familiar range amid mixed market sentiment.The West mulls additional punishments on Russia, US Treasury yields head south.Gold price remains stuck between two key daily averages, Fed minutes eyed for a fresh direction. Gold price defied the bullish odds and rebounded from multi-day troughs of $1,916, as the worsening Russia-Ukraine crisis and yield curve inversion infused safe-haven flows into the bright metal. Tensions surrounding the Russia-Ukraine war heightened after the US and European Union (EU) considered additional sanctions and penalties against Russia’s atrocities on innocent Ukrainian civilians. Russia, however, has denied allegations of war crimes. Investors remained on the edge while scurrying for safety in gold price, despite the US dollar’s str…