S&P 500 (SPX) Up $11 Over Past 4 Hours, 2 Day Up Streak Ended; Evening Star Pattern Appearing on Chart

S&P 500 4 Hour Price Update

Updated June 25, 2020 03:13 PM GMT (11:13 AM EST)

S&P 500’s 3 four-hour candle negative streak has officially concluded, as the candle from the last 4 hour candle closed up 0.36% (11). Relative to other instruments in the 8 major global equity indices asset class, S&P 500 ranked 4th since the last 4 hour candle in terms of percentage price change.

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 3050.33 US dollars, down 2.59% (80.96) since the previous day. Relative to other instruments in the 8 major global equity indices asset class, S&P 500 ranked 4th since the previous day 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

Notably, S&P 500 crossed below its 20 day moving average yesterday. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For another vantage point, consider that S&P 500’s price has gone up 6 of the previous 10 trading days. And for candlestick traders, a special treat: there is a evening star pattern showing up on the charts as well. Rejoice!

Overheard on Twitter

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

  • From blacktradeking:

    MAJOR STOCK MARKET INDICES ARE HAVING A HUGE DIVERGENCE. NASDAQ UP 13% YTD. YET DOW COMPOSITE DOWN 8.3%, AND S & P 500 DOWN FOR THE YEAR 3.1%AT SOME POINT EITHER THE SPX AND $INDU WILL HAVE TO CATCH UP WITH THE NASDAQ OR THE $COMPQ WILL DECLINE WITH OTHER TWO..SHORT FAANNG

  • From callieabost:

    The Nasdaq Composite is poised to close at a record, while the S&P 500 is poised to close about 7% below its own record.That’s the largest spread between $SPX and its own high w/ the Nasdaq Comp at a record since Feb. 2000. Before that, Jan. 1980.

  • From Takanova4:

    @komcdspxl With the S&P 500 up more than 21% for the quarter so far, strategists are handicapping the likelihood that pensions and other funds and investors will sell some of their big stock market gains and buy bonds in the course of the next week.