S&P 500 (SPX) Up 0.04%, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart

The Hourly View for SPX

Last Updated January 13, 2021, 02:018 GMT

Currently, S&P 500’s price is up 4 (0.11%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. Most noteworthy in the world of moving averages on the hourly chart is that the 50 hour moving average has been crossed, with price now being above it. 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 entered today at 3801.19, up 0.04% ($1.58) from the previous day. Out of the 14 instruments in the equity indices asset class, S&P 500 ended up ranking 7th for the day in terms of price change relative to the previous day. Let’s take a look at the daily price chart of S&P 500.

SPX

S&P 500 Technical Analysis

The clearest trend exists on the 14 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. Also, candlestick traders! Note we see pin bar pattern appearing here as well.