S&P 500 (SPX) Up 1.67%; Eyes 100 Day Average

S&P 500 Daily Price Recap

The back and forth price flow continues for S&P 500, which started today off at 2971.61 US dollars, up 1.67% ($48.67) from the day prior. Out of the 8 instruments in the 8 major global equity indices asset class, S&P 500 ended up ranking 2nd for the day in terms of price change relative to the day prior. The daily price chart of S&P 500 below illustrates.

S&P 500 Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 9 out of the past 14 days.

Overheard on Twitter

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

  • From EconguyRosie:

    If I told you last October that the unemployment rate was going to surge from 3.6% to 14.7% and on its way to 30%, would you have thought at the time that the S&P 500 would be at the same level today as it was back then? The Fed has broken the GDP-SPX link once and for all!

  • From OptionsHawk:

    Forward SPX returns after an NYSE 90% up day start off negative one to five days out,
    to test the resolve of the bulls, and then shift positive 10 to 65 days later. The S&P 500 is up 80% of the time with an average return of 5.1% (6.4% median) 65 days after the
    90% up day

  • From OptionsHawk:

    $SPXYesterday (5/18) marks the third 90% up day since the 3/23 low. The first 90% up day from 3/24 was a bullish response to the climactic crisis oversold levels achieved in March The second was on 4/6, just
    as the S&P 500 (SPX) crossed above its 200-week MA