S&P 500 (SPX) Makes Big Move Relative to Two Week Trend, in an Uptrend Over Past 30 Days; Eyes 20 Day Average

The Hourly View for SPX

Last Updated February 25, 2021, 00:018 GMT

Currently, S&P 500’s price is up 10.01 (0.25%) from the hour prior. S&P 500 has seen its price go up 8 out of the past 10 hours, thus creating some compelling opportunities for bulls. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

S&P 500 Daily Price Recap

S&P 500’s 5 day negative streak has officially concluded, as the candle from the previous day closed up 0.13% (4.87). Relative to other instruments in the equity indices asset class, S&P 500 ranked 9th since the previous day in terms of percentage price change. Let’s take a look at the daily price chart of S&P 500.

SPX

S&P 500 Technical Analysis

Volatility for S&P 500 has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 17 out of the past 30 days.