S&P 500 (SPX) Underperforms All 8 major Global Equity Indices, Down 0.52%; But Still in an Uptrend Over Past 30 Days

S&P 500 Daily Price Recap

S&P 500 entered today at 2863.39 in US dollars, down 0.52% ($15.09) from yesterday. 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. Or to view things another way, note that out of the past 30 days S&P 500’s price has gone up 16 them. Price action traders may wish to observe the bearish engulfing pattern that has emerged over the past two trading days; in light of the uptrend on the 30 and 90 day charts this may be particularly noteworthy, as it may signal the uptrend is cooling and ready to reverse.

Overheard on Twitter

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

  • From daddymak1:

    @Cryptoskeptic1 @BittelJulien @RaoulGMI Further evidence of FB AAPL AMZN MSFT and GOOG/L’s effect on SPX….SPY down 10.82% YTD, RSP (equal weight S&P 500 ETF) down 18.71%. I know their outsized effect on mkt has been discussed ad nauseum but I think it puts it into context when you see the numbers

  • From callieabost:

    There’s just something about April and green stocks.The S&P 500 closed up 9.8% for the month on Friday. $SPX is poised for its 14th up April in 15 years.

  • From BeyondPennies:

    The S&P 500 trades just 17% below its all-time high amid the largest economic shock in nearly a century. Redonkulous. #StockMarketCrash2020 $SPX $SPY $VIX