S&P 500 Daily Price Recap
The back and forth price flow continues for S&P 500, which started today off at 2799.55 US dollars, up 0.58% ($16.19) from the previous day. Out of the 8 instruments in the 8 major global equity indices asset class, S&P 500 ended up ranking 2nd for the day in terms of price change relative to the previous day. The daily price chart of S&P 500 below illustrates.
S&P 500 Technical Analysis
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Also of note is that on a 30 day basis 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 7 of the previous 14 trading days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar
Overheard on Twitter
Over on Twitter, here were the top tweets about S&P 500:
- From niremas:
$IVV (ASX) has been a pretty good ETF to hold US stocks, as it’s not currency hedged; When S&P 500 ($SPX) was down nearly 35%, $IVV was only down 22%; I bought this ETF in 2012 and have been adding ever since, some positions have doubled in value #ausbiz
- From Yogi_Chan:
Over the last three weeks, on days the initial jobless claims data has been released, the S&P 500 has actually rallied (+6.2%, +2.3% and +3.4%), Deutsche Bank reminds us.
- From BearishBullsCeo:
S&P 500, 27.2% gain in 15 days.$SPY $SPX95% of #FinTwit and #Stocktwits were bearish and missed the rally. Now everyone seems to be bullish, what’s next?
For a longer news piece related to SPX that’s been generating discussion, check out:
Image: Goldman Sachs Global Investment Research Equity Market Recoveries (Rise in S&P 500 Compared to Its Lows from the Past 500 Trading Days) Historically, the S&P 500 has rallied at least another 10% following a major crash….Image: Goldman Sachs Global Investment Research S&P 500 and Big Reversal Years Could the S&P 500 end the year positive?