S&P 500 (SPX) Up 0.64%; in an Uptrend Over Past 14 Days

The Hourly View for SPX

Last Updated January 1, 2021, 03:018 GMT

At the time of this writing, S&P 500’s price is down -0.01 (0%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend 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 and 10 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 closed the previous day up 0.64% (24.03); this denotes the 2nd consecutive day an upward move has occurred. Relative to other instruments in the equity indices asset class, S&P 500 ranked 3rd since the previous day in terms of percentage price change. Here is a daily price chart of S&P 500.

SPX

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 10 days S&P 500’s price has gone up 6 them.