The Hourly View for SPX
Last Updated April 5, 2021, 03:018 GMT
Currently, S&P 500’s price is down -3.01 (-0.07%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Price action traders may also wish to note that we see a doji 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 1.18% (46.98) from the open of the day prior, marking the 2nd straight day it has gone up. Out of the 14 instruments in the equity indices asset class, S&P 500 ended up ranking 6th for the day in terms of price change relative to the day prior. The daily price chart of S&P 500 below illustrates.
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 additional context, note that price has gone up 15 out of the past 30 days.