S&P 500 (SPX) Up 0.71%; in an Uptrend Over Past 90 Days

The Hourly View for SPX

Last Updated January 8, 2021, 02:018 GMT

At the time of this writing, S&P 500’s price is up 6.51 (0.17%) from the hour prior. This is the 3rd straight hour S&P 500 has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on S&P 500. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

S&P 500 Daily Price Recap

S&P 500 came into today up 0.71% (26.66) from the open of yesterday, marking the 3rd consecutive day it has gone up. Relative to other instruments in the equity indices asset class, S&P 500 ranked 6th since yesterday in terms of percentage price change. The daily price chart of S&P 500 below illustrates.

SPX

S&P 500 Technical Analysis

The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 8 out of the past 10 days.