S&P 500 (SPX) Up $2 Over Past 4 Hours, Came Into Today Up For the 2nd Day In A Row; Price Base in Formation Over Past 14 Days

S&P 500 4 Hour Price Update

Updated July 01, 2020 11:13 PM GMT (07:13 PM EST)

S&P 500 is up 0.06% (2) since the last 4 hour candle, marking the 2nd candle in a row an upward move 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 last 4 hour candle.

S&P 500 Daily Price Recap

S&P 500 came into today up 1.54% (47.05) from the open of yesterday, marking the 2nd day in a row an upward move has occurred. On a relative basis, today was pretty good: S&P 500 bested all 8 of the assets in the 8 major global equity indices class 🙂 Let’s take a look at the daily price chart of S&P 500.

S&P 500 Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For another vantage point, consider that S&P 500’s price has gone up 6 of the previous 10 trading 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 callieabost:

    I’ll spare you the quarter-end takes (because I don’t have any that haven’t already been said 😂), and toss you a summer stat.The last 8 times the S&P 500 has closed up in June (like it did this month), $SPX was higher at the end of September (average return of +5.3%)

  • From callieabost:

    Also worth noting that June 2020 was the most volatile June in some time for the S&P 500.$SPX moved an average of 1.3% each day this month, the biggest moves in a June since at least 1950.Higher volumes = higher volatility in this case.

  • From kidincollege:

    Ok @MikeMcDonald89 I bought an $8 call on $SPXS. The 3x leveraged bear S&P 500 ETF. Expiring 01/15/21 for $2.40. It’s already 8.28ish so I bought slightly in the money. I couldn’t resist! This market is way over priced!