S&P 500 (SPX) Up 0.09%; in an Uptrend Over Past 90 Days

The Hourly View for SPX

Last Updated June 29, 2021, 01:013 GMT

Currently, SPX’s price is down -1.5 (-0.03%) from the hour prior. SPX has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. 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 closed the day prior up 0.09% (3.8); this denotes the 4th day in a row an increase has occurred. Relative to other instruments in the equity indices asset class, S&P 500 ranked 2nd since the day prior in terms of percentage price change. The daily price chart of S&P 500 below illustrates.

SPX

S&P 500 Technical Analysis

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 8 of the previous 14 trading days.