The Hourly View for SPX
Last Updated January 14, 2021, 03:018 GMT
At the time of this writing, S&P 500’s price is down -3.76 (-0.1%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on S&P 500. Given that we see an uptrend on the 20 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 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 closed the previous day up 0.23% (8.65); this denotes the 2nd day in a row it has gone up. Relative to other instruments in the equity indices asset class, S&P 500 ranked 3rd since the previous day in terms of percentage price change. The daily price chart of S&P 500 below illustrates.
S&P 500 Technical Analysis
Trend traders will want to observe that the strongest trend appears on the 14 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 18 them.