S&P 500 (SPX) Down 1.01%; in an Uptrend Over Past 14 Days

S&P 500 Daily Price Recap

The choppiness in the recent daily price action of S&P 500 continues; to start today, it came in at a price of 2761.63 US dollars, down 1.01% ($28.19) since the previous day. Relative to other instruments in the 8 major global equity indices asset class, S&P 500 ranked 5th since the previous day in terms of percentage price change. The daily price chart of S&P 500 below illustrates.

S&P 500 Technical Analysis

Volatility for S&P 500 has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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 10 days S&P 500’s price has gone up 5 them.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to S&P 500 for the past day were:

  • From MrMBrown:

    A risk-averse start to the trading week, although indices end the day well off session lows; ahead of Q1 earnings season kicking off tomorrow.At the close:- S&P 500 down 1.01%
    – Dow down 1.37%
    – Nasdaq up 0.48%$SPX $DJIA $COMP

  • From JulianKlymochko:

    After last week’s +12% gain in the S&P 500, its best week since 1974, just 1% of $SPX is now short sale restricted

  • From Jose_TMMM:

    “Leveraged” ETFs are ETFs that are designed to mirror the performance of a benchmark, like the S&P 500 and then multiply the return by a certain factor (number)
    Ex: SPXL, an ETF designed to 3x the return of the S&P 500

As for a news story related to S&P 500 getting some buzz:

S&P 500 Index: Is the Bear Market Rally Almost Over? – See It Market

But the market doesn’t pay you to be irrational….In today’s chart post, I’ll highlight key time and price resistance on the S&P 500 and why the bear market rally may top out this week.