S&P 500 (SPX) Up 1.09%; in an Uptrend Over Past 90 Days

The Hourly View for SPX

Last Updated April 26, 2021, 02:018 GMT

At the moment, S&P 500’s price is up 3.5 (0.08%) 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. 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 doji candlestick pattern on S&P 500. Given that we see an uptrend 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

4180.17 was the closing price of the day for S&P 500, resulting in today being one in which price moved up 1.09% ($45.19) from the day prior. 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 day prior. Below is a daily price chart of S&P 500.

SPX

S&P 500 Technical Analysis

Volatility for S&P 500 has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 5 out of the past 10 days.