S&P 500 (SPX) 2 Day Up Streak Snapped, Breaks Below 50 Day Average; 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 2823.16 US dollars, down 1.79% ($51.4) since the previous day. Relative to other instruments in the 8 major global equity indices asset class, S&P 500 ranked 7th since the previous day in terms of percentage price change. Below is a daily price chart of S&P 500.

S&P 500 Technical Analysis

Moving average crossovers are always interesting, so let’s start there: S&P 500 crossed below its 50 day moving average yesterday. 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. Or to view things another way, note that out of the past 10 days S&P 500’s price has gone up 6 them.

Overheard on Twitter

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

  • From TomWhite_TDAN:

    The S&P 500 $SPX & Nasdaq $COMP have jumped more than 30% from its March 23 intraday low while the Dow $DJI has gained 33% at the close on Friday. No good news with Earnings expected to be dismal. Going to be an interesting week with downside potential. @TDANetwork $VIX

  • From hiddensmallcaps:

    $SPX $SPYThe S&P 500 gained 15.5% the past 2 weeks. Only other times since WWII that it gained >12% in 2 weeks was October 1974, August 1982, and March 2009. One year later the S&P 500 was up 22.9%, 37.3%, and 51.7%, respectively.

  • From Kevin_Kelly_II:

    Spread between the most bullish and bearish 12M price target for the $SPX is almost 1000 pts.For context, the S&P 500 is currently trading around 2830.I’m no doctor but that seems like a sizable difference…