The Hourly View for SPX
Last Updated January 6, 2021, 02:018 GMT
Currently, S&P 500’s price is down -14.04 (-0.38%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 200 and 50 hour moving averages have been crossed, with price now being below them. 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
The choppiness in the recent daily price action of S&P 500 continues; to start today, it came in at a price of 3726.86 US dollars, up 0.71% (26.21) since the previous day. 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 previous day. Below is a daily price chart of S&P 500.
S&P 500 Technical Analysis
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For another vantage point, consider that S&P 500’s price has gone up 16 of the previous 30 trading days.