S&P 500 (SPX) Moves Up For the 2nd Straight Day

The Hourly View for SPX

Last Updated April 2, 2021, 23:18 GMT

Currently, S&P 500’s price is down -4.26 (-0.11%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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 and 10 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

S&P 500 came into today up 1.18% (46.98) from the open of yesterday, marking the 2nd straight day an increase has occurred. Out of the 14 instruments in the equity indices asset class, S&P 500 ended up ranking 6th for the day in terms of price change relative to yesterday. Let’s take a look at the daily price chart of S&P 500.

SPX

S&P 500 Technical Analysis

The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For another vantage point, consider that S&P 500’s price has gone up 15 of the previous 30 trading days.