S&P 500 (SPX) Moves Up For the 2nd Consecutive Day; in an Uptrend Over Past 90 Days

The Hourly View for SPX

Last Updated June 7, 2021, 02:018 GMT

Currently, S&P 500’s price is down -3.25 (-0.08%) from the hour prior. The hourly chart shows that S&P 500 has seen 2 straight down hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

S&P 500 Daily Price Recap

S&P 500 came into today up 0.02% (0.76) from the open of the previous day, marking the 2nd consecutive day an increase has occurred. Out of the 14 instruments in the equity indices asset class, S&P 500 ended up ranking 9th for the day in terms of price change relative to the previous day. Below is a daily price chart of S&P 500.

SPX

S&P 500 Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 16 out of the past 30 days.