S&P 500 (SPX) Up $34.27 On 4 Hour Chart, Fares the Worst Out of 8 major Global Equity Indices; Started Today Down 3.51%

S&P 500 4 Hour Price Update

Updated September 04, 2020 11:13 PM GMT (07:13 PM EST)

3430 was the closing price of the four-hour candle for S&P 500, resulting in the current 4 hour candle being one in which price moved up 1.01% ($34.27) from the previous 4 hours. S&P 500 outperformed all 8 assets in the 8 major global equity indices asset class since the previous 4 hours. Congrats to its holders!

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 3455.06 US dollars, down 3.51% (125.78) since yesterday. Those trading within the 8 major global equity indices asset class should know that S&P 500 was the worst performer in the class today. 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. Or to view things another way, note that out of the past 30 days S&P 500’s price has gone up 21 them. Traders may also wish to note that there is a bearish engulfing pattern in play, which suggests the uptrend on the 14, 30 and 90 day charts, may be slowing down and ready to reverse.

Overheard on Twitter

Behold! Here are the top tweets related to S&P 500:

  • From DarinRossMiller:

    @garyblack00 Is it possible S&P 500 is trying to time Tesla inclusion. It’s against the idea that their list represents a stable, long term investment based purely on results. This is the role of fund managers, not theirs and they are only making things worse. Inaction is action. $TsLa $SPX

  • From SqueezeMetrics:

    @obwon72 @SamanthaLaDuc Anything that makes the S&P 500 go up right now is a squeeze. In late ’17, early ’18, there was a short squeeze as SPX call overwriters repeatedly were forced into rolling their short calls.Need something like this to keep the index moving up.

  • From dankourny:

    @Dennis83564480 @zerohedge Trading “longer”? Not sure what you mean there. If it’s referring to how long I’ve been trading. It’s 30 years. Professionally. While managing billions of dollars of institutional money. It it’s referring to my trading positions, I’m in triple-levered S&P 500 ETF $SPXL

In terms of news links for S&P 500 here’s one to try:

S&P 500 Index (SPX) – Investing.com

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By Yasin Ebrahim
Investing.com – The Dow closed sharply lower on Thursday as big tech stocks fell out of favor amid a jump in volatility and mixed economic data ahead of the key……While I have no doubts about stocks being in a strong bull market, isn’t it a bit more than stellar path ahead in the…