S&P 500 (SPX) Up 0.15%; in an Uptrend Over Past 14 Days

The Hourly View for SPX

Last Updated April 8, 2021, 03:018 GMT

Currently, S&P 500’s price is up 3.88 (0.09%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as S&P 500 has now gone up 8 of the past 10 hours. Regarding the trend, note that the strongest trend exists on the 100 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, 10 and 5 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 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

4079.95 was the closing price of the day for S&P 500, resulting in today being one in which price moved up 0.15% ($6.01) from the previous day. Out of the 14 instruments in the equity indices asset class, S&P 500 ended up ranking 5th for the day in terms of price change relative to the previous day. The daily price chart of S&P 500 below illustrates.

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 7 out of the past 14 days.