The Hourly View for SPX
Last Updated June 7, 2021, 17:18 GMT
At the time of this writing, S&P 500’s price is up 2.25 (0.05%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Of note is that the 100 hour changed directions on SPX; it is now pointing up. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
S&P 500 Daily Price Recap
S&P 500 is up 0.02% (0.76) since the day prior, marking the 2nd consecutive day an increase has occurred. Out of the 14 instruments in the equity indices asset class, S&P 500 ended up ranking 9th for the day in terms of price change relative to the day prior. Let’s take a look at the daily price chart of S&P 500.
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. Or to view things another way, note that out of the past 14 days S&P 500’s price has gone up 8 them.