S&P 500 Daily Price Recap
The end of a 3 day positive run has come for S&P 500, which finished yesterday down 2.05% ($60.2). On a relative basis, S&P 500 was the worst performer out of all 8 of the assets in the 8 major global equity indices asset class today. Below is a daily price chart of S&P 500.
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. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For another vantage point, consider that S&P 500’s price has gone up 8 of the previous 14 trading days.
Overheard on Twitter
Over on Twitter, here were the top tweets about S&P 500:
- From RealMikeLarson:
In hindsight, financials were definitely the “tell” here. Have been trading heavy for ages … and went red first this morning (Not like most investors these days believe there are more than 5 mega-cap #tech stocks in the S&P 500 though) $XLF $KRE $SPX
- From OptionPit:
Many of the index’s are no longer really index’s. The $QQQ is now about 48% $MSFT $AAPL $GOOG $AMZN $FB and the S&P 500 is now 21% of the same stocks. The $SPX in particular is alarming considering the world wide exposure.
- From callieabost:
It’s just another manic (but green) Monday:The S&P 500 has closed higher the past three Mondays, the longest streak since November (and the third time in 15 months that $SPX has closed up for three straight Mondays).