S&P 500 (SPX) Down 0.06%, in an Uptrend Over Past 90 Days; Doji Pattern Appearing on Chart

The Hourly View for SPX

Last Updated February 18, 2021, 00:019 GMT

At the moment, S&P 500’s price is up 3.76 (0.1%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as S&P 500 has now gone up 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 100 hour moving average, resulting in them so that price is now turning above it. 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

3932.59 was the closing price of the day for S&P 500, resulting in today being one in which price moved down 0.06% ($2.24) from yesterday. Relative to other instruments in the equity indices asset class, S&P 500 ranked 8th since yesterday in terms of percentage price change. The daily price chart of S&P 500 below illustrates.

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 another vantage point, consider that S&P 500’s price has gone up 9 of the previous 14 trading days. Also, candlestick traders! Note we see doji pattern appearing here as well.