S&P 500 (SPX) Down 0.13%; in an Uptrend Over Past 90 Days

The Hourly View for SPX

Last Updated June 21, 2021, 01:010 GMT

At the time of this writing, SPX’s price is down -0.75 (-0.02%) from the hour prior. This is the 2nd consecutive hour SPX has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on SPX. Given that we see downtrend 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 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 closed the previous day down 0.13% (5.24); this denotes the 5th straight day it has gone down. 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 previous day. Here is a daily price chart of S&P 500.

SPX

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. Or to view things another way, note that out of the past 30 days S&P 500’s price has gone up 15 them.