S&P 500 (SPX) Heads Down For the 2nd Day In A Row; in an Uptrend Over Past 90 Days

The Hourly View for SPX

Last Updated February 19, 2021, 00:018 GMT

At the time of this writing, S&P 500’s price is down -5.25 (-0.13%) from the hour prior. The hourly chart shows that S&P 500 has seen 3 straight down hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Of note is that the 100 hour changed directions on SPX; it is now pointing down. 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 closed the previous day down 0.03% (1.26); this denotes the 2nd day in a row it has gone down. Relative to other instruments in the equity indices asset class, S&P 500 ranked 4th since the previous day in terms of percentage price change. Here is a daily price chart of S&P 500.

SPX

S&P 500 Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 19 out of the past 30 days.