S&P 500 (SPX) Down $11 On 4 Hour Chart, 3 Day Up Streak Snapped; Price Base in Formation Over Past 14 and 90 Days

S&P 500 4 Hour Price Update

Updated June 18, 2020 03:13 AM GMT (11:13 PM EST)

S&P 500 came into the current 4 hour candle down 0.35% (11) from the open of the last 4 hour candle, marking the 4th candle in a row it has gone down. Relative to other instruments in the 8 major global equity indices asset class, S&P 500 ranked 3rd since the last 4 hour candle in terms of percentage price change.

S&P 500 Daily Price Recap

S&P 500’s 3 day positive streak has officially concluded, as the candle from the previous day closed down 0.36% (11.25). Out of the 8 instruments in the 8 major global equity indices asset class, S&P 500 ended up ranking 6th for the day in terms of price change relative to the previous day. Below 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 30 day horizon; over that time period, price has been moving up. Also of note is that on the 14 and 90 day bases price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For another vantage point, consider that S&P 500’s price has gone up 5 of the previous 10 trading days.

Overheard on Twitter

Over on Twitter, here were the top tweets about S&P 500:

  • From Harryjay8989:

    DT challenge day46 P/L -$44.46 orders44 S&P 500 +1.90% should’ve traded today I was in the wrong frame of mind had a bad day bad sleep didn’t feel like trading and lost. Need to change myFrame of mind and need to understand what’s important $DGAZ ❌ $SPXL ❌ $TVIX ✅ $UGAZ ❌ 🥺

  • From tradeui:

    $SPY SPDR S&P 500 Option Alert: Aug 21 $320 Calls Sweep (2) near the Ask: 600 @ $10.25 vs 24840 OI; Ref=$313.85 [6/16/2020, 7:47:28 AM] [+$500k Sweeps Above Midpoint] Other Sweeps on: $SMPL $DVN $SPCE $TSLA $EMB $MAT $USO $EXPE $WPC $KKR $SPXS $PBF

  • From AK47PFL:

    $MOEX $SPX
    ⚡️ Moscow Exchange will launch trading in 25-30 most liquid S&P 500 stocks by late summer, while this number will increase to 50 by the year end – Moscow Exchange.