S&P 500 Continues Its Sharp Trend — How Much Longer Can It Last?

The Daily View for S&P 500

  • At the moment, SPX’s price is up 16.97 (0.38%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as S&P 500 has now gone down 4 of the past 5 days.
  • If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 day timeframes.
  • Of note is that the 200 day changed directions on SPX; it is now pointing down. The moving averages on the daily 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.
  • Divergence between SPX’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in SPX’s price.

Below is a daily price chart of S&P 500.

SPX

Featured S&P 500 Idea From TradingView

Below is a trading comment entitled USD/JPY Weekly Forex Market Analysis you may find interesting:

Weekly Forex Market Analysis: USD/JPY Moves Sideways As Price Face restriction Above 109.90sLast week it was discovered that the “ninja” closed the previous trading week session with a strong consolidation in price action movement. Where The ratio of buyers and sellers was approximately in direct proportion. Hence a tight sideways movement in price exchange surfaces the entire USDJPY Market. With this in mind, the majority of market players are on the outlook for a spike in the volatility Nature of the pair. And If at any moment the presence of a genuine volatility Indicator overshadow the consolidation force the market is currently undergoing. The price of the market could tend to move in the favour of the dominating key market participants.What To Expect For This Week In USD/JPY Market The Japanese Business sentiment index( BSI) which measures the sentiment of the large manufacturing industry in Japan is said to be released (on Monday 13th of September 2021) with a positive expectation on the side of economic analysts and the interbank markets. However, the last reported update for the BSI data claims a recording of -1.4 which was believed to be a negative performance. In response to this report, a bullish motion could be welcome in the market if at all the reported data outweigh the previous release or yield a number above zero, on the flip side a bearish move will be the next trending move if the BSI data shoul…

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