S&P 500 (SPX) 2 Day Down Streak Ended, Breaks Above 20 Day Average; in an Uptrend Over Past 90 Days

The Hourly View for SPX

Last Updated March 26, 2021, 01:018 GMT

At the time of this writing, S&P 500’s price is down -2 (-0.05%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

S&P 500 Daily Price Recap

S&P 500 entered today at 3909.52, up 0.52% ($20.38) from yesterday. Relative to other instruments in the equity indices asset class, S&P 500 ranked 4th since yesterday 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

Moving average crossovers are always interesting, so let’s start there: S&P 500 crossed above its 20 day moving average yesterday. 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 5 of the previous 10 trading days.