The Hourly View for SPX
Last Updated June 10, 2021, 08:018 GMT
At the time of this writing, S&P 500’s price is up 1 (0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on S&P 500. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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
S&P 500 entered today at 4219.55, down 0.18% ($7.71) from yesterday. Relative to other instruments in the equity indices asset class, S&P 500 ranked 7th since yesterday in terms of percentage price change. Let’s take a look at the daily price chart of S&P 500.
S&P 500 Technical Analysis
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 14 days S&P 500’s price has gone up 8 them.