S&P 500 (SPX) Up 0.02%; in an Uptrend Over Past 90 Days

The Hourly View for SPX

Last Updated June 9, 2021, 19:19 GMT

At the moment, S&P 500’s price is down -3.5 (-0.08%) from the hour prior. The hourly chart shows that S&P 500 has seen 2 straight down hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 and 50 hour moving averages, resulting in them with price now being below them. 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

The choppiness in the recent daily price action of S&P 500 continues; to start today, it came in at a price of 4227.26 US dollars, up 0.02% (0.74) since yesterday. Relative to other instruments in the equity indices asset class, S&P 500 ranked 6th since yesterday 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

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. For another vantage point, consider that S&P 500’s price has gone up 7 of the previous 10 trading days.