The Daily View for S&P 500
- At the moment, SPX’s price is up 12.86 (0.28%) from the day prior.
- It’s been a feast for bears operating on the daily timeframe, as S&P 500 has now gone down 25 of the past 30 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.
- Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on S&P 500. Given that we see an uptrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
- The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
- 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.
Featured S&P 500 Idea From TradingView
Below is a trading comment entitled End of era news n°35 you may find interesting:
> FDA approves Pfizer vaccine (a great company, diversified, and with a PE ratio Who could have predicted this? BOC stops printing money, Canada GDP “surprises” with a decline*********************** Seven weeks after the central bank tapered down its asset purchase program the GDP numbers show a decline of 0.3%. For reminder the last numbers were +9.1% (after the “covid” -11.3% quarter), +2.2%, +1.4%. -0.3% seems like normal continuation of the trend. Western demographics are terrible and growth is over as some people have predicted. It’s ok they can come up with excuses like “covid”.We can speculate the central bank might increase it’s helicopter program. Who knows, they might have seen the negative numbers coming and perhaps they reduces the money printing to make it look like that’s the reason for negative numbers “the economy was not ready bla bla bla”. In reality the whole civilization is in a secular bear market that will last anywhere from 30 years to 150. > End of era: UK spy calls Afghanistan events “end of of an era of western liberalism and democracy”*********************** According to a jounalist a UK senior former UK intelligence officer said about Afghanistan: “This marks the end of an era of Western liberalism & democracy that started with the fall of the Berlin Wall. It is a defeat of Western ideology.”Spies are conspiracy theorists times 10. They know wht’s going on. Other former spies have made similar comments about the fall of the west in the past, mostly russian and including Vladimir Putin, he is not retired but he is a former spy.Big change, big uncertainty (for regular people) = big risk and big profits right? > End of era: Biden announces ‘end of era’ for US interference abroad. American isolationism continues!*********************** Biden words. Freudian slip? Huh you think governments and lawmakers are aware of their ideoloy being close to crumbling, just like communism in the USSR did, and the leaders knew about it at least 10 years before it happened.The US president said the world may be quieter in the future. Russian foreign minister Lavrov said “Both of them (Biden & Macron), with a gap of just one or two days, announced that it was time to wrap up interference in the internal affairs of other countries with aims to impose Western-style democracy on them.” and has called “the moment very interesting”.If the US leaves Iran alone, can we expect more competition among Oil producers? Maybe Iran…