S&P 500 (SPX) Up $4 Over Past 4 Hours, Tops All 8 major Global Equity Indices; Entered Today Up 1.24%

S&P 500 4 Hour Price Update

Updated July 30, 2020 03:13 AM GMT (11:13 PM EST)

S&P 500 came into the current 4 hour candle up 0.12% (4) from the open of the previous 4 hours, marking the 3rd candle in a row an increase has occurred. Out of the 8 instruments in the 8 major global equity indices asset class, S&P 500 ended up ranking 4th for the four-hour candle in terms of price change relative to the previous 4 hours.

S&P 500 Daily Price Recap

The back and forth price flow continues for S&P 500, which started today off at 3258.44 US dollars, up 1.24% (40) from the day prior. S&P 500 outperformed all 8 assets in the 8 major global equity indices asset class since the day prior. Congrats to its holders! Below is a daily price chart of S&P 500.

SPX

S&P 500 Technical Analysis

Volatility for S&P 500 has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For another vantage point, consider that S&P 500’s price has gone up 6 of the previous 10 trading days.

Overheard on Twitter

Over on Twitter, here were the top tweets about S&P 500:

  • From Harryjay8989:

    DT challenge day46 P/L -$44.46 orders44 S&P 500 +1.90% should’ve traded today I was in the wrong frame of mind had a bad day bad sleep didn’t feel like trading and lost. Need to change myFrame of mind and need to understand what’s important $DGAZ ❌ $SPXL ❌ $TVIX ✅ $UGAZ ❌ 🥺

  • From Pete_Clay:

    @anonyx10 Tesla’s revenue is less than half Apple’s at time of $300 billion milestone, & 70% less than Amazon’s at Amazon’s market value milestone, Jonas said. Some S&P 500 index’s SPX market ratios are higher today, which explains some of the valuation premium for Tesla, he said $70B – hm

  • From RyanDetrick:

    The last time (before 2020) both gold and the S&P 500 made new highs in the same year was 1979.This isn’t as bearish as you might think, as gold added another 17% and the SPX 26% in 1980.”An object in motion stays in motion” comes to mind here.