S&P 500 (SPX) Heads Up For the 3rd Consecutive Day; in an Uptrend Over Past 30 Days

The Hourly View for SPX

Last Updated June 28, 2021, 02:018 GMT

Currently, S&P 500’s price is down -0.25 (-0.01%) from the hour prior. This is the 3rd hour in a row S&P 500 has seen its price head 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 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 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 came into today up 0.14% (6.11) from the open of yesterday, marking the 3rd consecutive day an upward move has occurred. Relative to other instruments in the equity indices asset class, S&P 500 ranked 9th since yesterday in terms of percentage price change. Here is a 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. For another vantage point, consider that S&P 500’s price has gone up 18 of the previous 30 trading days.