S&P 500 (SPX) Down $2.98 On 4 Hour Chart, 4 Day Up Streak Ended; in an Uptrend Over Past 14 Days

S&P 500 4 Hour Price Update

Updated July 24, 2020 11:13 PM GMT (07:13 PM EST)

S&P 500 is down 0.09% (2.98) since the previous 4 hours, marking the 2nd candle in a row it has gone down. Relative to other instruments in the 8 major global equity indices asset class, S&P 500 ranked 5th since the previous 4 hours in terms of percentage price change.

S&P 500 Daily Price Recap

S&P 500’s 4 day positive streak has officially concluded, as the candle from the previous day closed down 1.23% (40.36). Out of the 8 instruments in the 8 major global equity indices asset class, S&P 500 ended up ranking 7th for the day in terms of price change relative to the previous day. Let’s take a look at the daily price chart of S&P 500.

SPX

S&P 500 Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 9 out of the past 14 days.

Overheard on Twitter

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

  • From qckisa:

    A crash-like rapid decline around 7-10% is likely, thereafter it may turn into a 15-20% decline with a trend break on S&P 500 Index, or around high 2900s to low 2800s at the moment, and it’s around a third to half way of the entire move since March lows on largecap indices. $SPX

  • From wolftraderfutu1:

    $SPX $SPY $ES_F $QQQ, $FED.Good morning everyone. I will be on “Trade What You See” this morning (Friday) from 9:00-10:00 AM on TFNN to discuss the effect of the US Dollar and the Fed on the S&P 500.I believe we are at a VERY IMPORTANT spot in the market. See you there!

  • From almighty_red:

    @BornChamp92 @distortedd_ well the stimulus checks help the $SPX which is S&P 500. people spend their money on retail. that is the reason why you haven’t seen the housing market drop or a deeper drop on the stock market cause stimulus spending is in retail right now. that’s not smart tho.