S&P 500 (SPX) Up $17 On 4 Hour Chart, Fares the Worst Out of 8 major Global Equity Indices; Started Today Down 2.78%

S&P 500 4 Hour Price Update

Updated September 09, 2020 11:13 AM GMT (07:13 AM EST)

S&P 500 closed the previous 4 hours up 0.51% (17); this denotes the 2nd straight candle it has gone up. Out of the 8 instruments in the 8 major global equity indices asset class, S&P 500 ended up ranking 5th for the four-hour candle in terms of price change relative to the previous 4 hours.

S&P 500 Daily Price Recap

S&P 500 closed yesterday down 2.78% (95.12); this denotes the 3rd day in a row it has gone down. Those trading within the 8 major global equity indices asset class should know that S&P 500 was the worst performer in the class today. Here is a daily price chart of S&P 500.

SPX

S&P 500 Technical Analysis

The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 20 out of the past 30 days.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to S&P 500 for the past day were:

  • From smarket:

    There is an ETF for every situation. If you are bearish on US equities – there is SPXS. It’s a leveraged ETF that offers 3x returns on the downside.It means if the S&P 500 falls 1%, SPXS is expected to provide investors with a return of 3% on that same day.

  • From TheStacksMarket:

    $SPX (S&P 500) has not tested its 50 SMA and is 7.6% above its 200 SMA$INDU (Dow Jones Industrial Average) has not tested its 50 SMA and is 4.5% above its 200 SMA$COMPQ (Nasdaq Composite) dipped below its 50 SMA but is still 15.6% above its 200 SMA

  • From UgeneKrawec:

    Market selloff continued..spx under support …tech names turn into down trends ..tsla snubbed from S&P 500 …tsla -88 today, down from 540 ,last Tuesday .Astra Seneca puts vaccine on hold , pushing more stock selling… spx 3200 next support… tsla 50 day m.a 329.. spy 333

For a longer news piece related to SPX that’s been generating discussion, check out:

Equal-Weighted S&P 500 Index Showing Internal Weakness – See It Market

This means that you weight each member by its stock price….This means that the largest stock and smallest stock by market cap will be given an equal weight.