S&P 500 4 Hour Price Update
Updated May 26, 2020 11:13 PM GMT (07:13 PM EST)
S&P 500 came into the current 4 hour candle down 0.4% (12) from the open of the previous 4 hours, marking the 2nd candle in a row a decline has happened. Those trading within the 8 major global equity indices asset class should know that S&P 500 was the worst performer in the class the current 4 hour candle.
S&P 500 Daily Price Recap
S&P 500 came into today up 1.3% (38.55) from the open of yesterday, marking the 2nd day in a row an upward move has occurred. Relative to other instruments in the 8 major global equity indices asset class, S&P 500 ranked 4th since yesterday in terms of percentage price change. Let’s take a look at the daily price chart of S&P 500.
S&P 500 Technical Analysis
Notably, S&P 500 crossed above its 100 day moving average yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 14 days S&P 500’s price has gone up 9 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.
Overheard on Twitter
Over on Twitter, here were the top tweets about S&P 500:
- From GmbhQuanify:
After the February-March crash, the S&P 500 has been recovering a great part of its losses. The index is pressuring the May’s highs above the 100 SMA on the daily chart. As buyers stay firmly in charge, a run to the 3000 figure appears imminent. #sp500 #SPX
- From LynAldenContact:
@Aemiliannus Over the past 2-2.5 years, the S&P 500 has been relatively flat, a poor return environment in this strong dollar period. SPX was 2800 on Jan 2018. Sharp dollar spikes result in equity market sell-offs. Sideways dollar markets just provide headwinds against SPX performance.
- From GmbhQuanify:
A sustained break above the mentioned level can see the S&P 500 hit the 3075/3100 price zone in the medium-term. On the flip side, support can be seen near the 2900 and 2850 levels. #sp500 #SPX
For a longer news piece related to SPX that’s been generating discussion, check out:
Given this difficulty, how many S&P 500 companies have provided EPS guidance for 2020 during the Q1 earnings season?…How many S&P 500 companies have withdrawn EPS guidance for 2020 during the Q1 earnings season?