S&P 500 4 Hour Price Update
Updated May 27, 2020 07:13 PM GMT (03:13 PM EST)
S&P 500 is down 1.09% (33) since the last 4 hour candle, marking a reversal from the candle prior — and the end of a 4 four-hour candle positive run. Those trading within the 8 major global equity indices asset class should know that S&P 500 was the worst performer in the class the current 4 hour candle.
S&P 500 Daily Price Recap
S&P 500 closed the day prior up 1.23% (36.32); this denotes the 2nd day in a row it has gone up. Relative to other instruments in the 8 major global equity indices asset class, S&P 500 ranked 6th since the day prior in terms of percentage price change. Let’s take a look at the daily price chart of S&P 500.
S&P 500 Technical Analysis
Notably, S&P 500 crossed above its 100 day moving average yesterday. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 18 out of the past 30 days.
Overheard on Twitter
Behold! Here are the top tweets related to S&P 500:
- From qckisa:
S&P 500 Index is unlikely to trend higher over 200-day moving average with only 37% of its issues trading over it. It’s 25% of issues on NYSE. Number of issues over 50-dma says this is overbought. 10-day CBOE equity P/C ratio is at 0.56. Blowing off… Oh boy! $SPX $NYA
- From GmbhQuanify:
After the February-March crash, the S&P 500 has been recovering a great part of its losses. The index is pressuring the May’s highs above the 100 SMA on the daily chart. As buyers stay firmly in charge, a run to the 3000 figure appears imminent. #sp500 #SPX
- From LynAldenContact:
@Aemiliannus Over the past 2-2.5 years, the S&P 500 has been relatively flat, a poor return environment in this strong dollar period. SPX was 2800 on Jan 2018. Sharp dollar spikes result in equity market sell-offs. Sideways dollar markets just provide headwinds against SPX performance.
For a longer news piece related to SPX that’s been generating discussion, check out:
S&P 500 This chart highlights the current wide divergence between the Consumer Confidence Index and the S&P 500….Image: BofA Research Investment Committee U.S. Equity Market Sentiment and S&P 500 The equity risk indicator from Morgan Stanley is still in exuberant territory.