S&P 500 (SPX) 2 Day Down Streak Broken; in an Uptrend Over Past 14 Days

The Hourly View for SPX

Last Updated November 20, 2020, 03:018 GMT

At the moment, SPX’s price is down 0 (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Of note is that the 200 hour changed directions on SPX; it is now pointing down. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

S&P 500 Daily Price Recap

3581.87 was the closing price of the day for S&P 500, resulting in today being one in which price moved up 0.39% ($14.08) from the previous day. Out of the 14 instruments in the equity indices asset class, S&P 500 ended up ranking 4th for the day in terms of price change relative to the previous day. Here is a daily price chart of S&P 500.

SPX

S&P 500 Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 5 out of the past 10 days.