S&P 500 (SPX) Down 0.32%, in an Uptrend Over Past 90 Days; Price Base in Formation Over Past 14 Days

The Hourly View for SPX

Last Updated April 1, 2021, 00:018 GMT

At the moment, S&P 500’s price is up 2.51 (0.06%) from the hour prior. The hourly chart shows that S&P 500 has seen 3 straight up hours. Regarding the trend, note that the strongest trend exists on the 100 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 is down 0.32% (12.54) since yesterday, marking the 2nd day in a row a decline has happened. Relative to other instruments in the equity indices asset class, S&P 500 ranked 12th 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. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For another vantage point, consider that S&P 500’s price has gone down 17 of the previous 30 trading days.