S&P 500 4 Hour Price Update
Updated September 15, 2020 11:14 PM GMT (07:14 PM EST)
The end of a 5 four-hour candle positive run has come for S&P 500, which finished the previous 4 hours down 0.29% (10). Out of the 14 instruments in the equity indices asset class, S&P 500 ended up ranking 11th for the four-hour candle in terms of price change relative to the previous 4 hours.
S&P 500 Daily Price Recap
S&P 500 is up 1.27% (42.57) since yesterday, marking the 2nd consecutive day it has gone up. Relative to other instruments in the equity indices asset class, S&P 500 ranked 3rd since yesterday in terms of percentage price change. Here 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. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed down. This may setup an interesting opportunity for traders looking to buy dips in anticipation of the primary trend resuming. For another vantage point, consider that S&P 500’s price has gone up 21 of the previous 30 trading days.
Overheard on Twitter
Over on Twitter, here were the top tweets about S&P 500:
- From JG_SBALending:
Market news for lunch 🍴 🥙 #DJIA rose 384 points, 1.4%. The S&P 500 #SPX added 54 points, or 1.6%. Nasdaq #COMP up 216 points or 2.2%.
@AstraZeneca up 0.71%, @pfizer added 3.63% offer some optimism for vaccine 💉 @Oracle rose 5.7% after partnership with @tiktok_us and @nvidia up
- From FTSEtrading:
There is still a divergence between the FTSE100 and the S&P 500, the FTSE is rallying while the S&P is going down. This divergence cannot last, either the FTSE will decline to catch up with the S&P or the S&P will rally #FTSE $SPX
- From truth_tesla:
@garyblack00 @MrRobRobson “Merger activity within the S&P 500 (SPX) has historically been the biggest reason companies leave the index, and could provide an opening for a company like Tesla, said two sources familiar with how the committee has made decisions.”
For a longer news piece related to SPX that’s been generating discussion, check out:
Moreover, the stock is trading above both its 20 and 50 day MA (respectively at $217.43 and $188.58)….We are looking at the final target of $100.00 with a stop-loss set at $120.00. Additionally last week, Tesla (TSLA), the electric-vehicle maker, had the most publications on the US stock market on the topic of price gain, even though last week the Co dropped 10.9%….We are looking at the final target of $244.00 with a stop-loss set at $437.00.Looking at the S&P 500 CFD on a 30 minute chart, the index appears to be trading within a short-term sideways trend, also known as a rectangle, that began to form last week….If price breaks out thorough the lower boundary of the rectangle at 3310.00, price could drop further to its second support level of 3280.00, which would be a bearish signal….Regardless of which way price breaks out, it will likely continue in that direction afterwards.
Source: GAIN Capital, TradingView
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