S&P 500 (SPX) Up 0.14%, in an Uptrend Over Past 14 Days; Price Base in Formation Over Past 30 Days

The Hourly View for SPX

Last Updated June 3, 2021, 03:018 GMT

Currently, S&P 500’s price is down -1.75 (-0.04%) from the hour prior. This is the 2nd hour in a row S&P 500 has seen its price head down. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

S&P 500 Daily Price Recap

S&P 500 entered today at 4208.12, up 0.14% ($6.08) from the previous day. Out of the 14 instruments in the equity indices asset class, S&P 500 ended up ranking 8th for the day in terms of price change relative to the previous day. The daily price chart of S&P 500 below illustrates.

SPX

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 16 of the previous 30 trading days. And for candlestick traders, a special treat: there are doji and pin bar patterns showing up on the charts as well. Rejoice!