News Releases Impacting S&P 500
- Forecasted Existing Home Sales in United States: 5.4.. The actual number: 5.41.. (0.18% difference between the two.)
The Daily View for S&P 500
- At the moment, SPX’s price is down 0 (0%) from the day prior.
- This is a reversal of the price action on the previous day, in which price moved up.
- As for the trend on the daily timeframe, we see the clearest trend on the 20 day timeframe.
- Price action traders may also wish to note that we see a pin bar candlestick pattern on S&P 500. Given that we see downtrend on the 20 and 10 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 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.
- 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 BTC Who is the Leader? you may find interesting:
Correlation time, DXY, SPX and XAU, compared to BTC…. Rising DXY, Ranging XAU and falling SPX, we can see from this chart, that BTC is acting in an inverse manner to DXY, and is falling like US stocks, as we enter a new stage of the market and the problem of inflation we are seeing the FED Raise rates and introduce tapering measures, less asset purchasing, since the Covid-19 Pandemic we have seen staggering rise in money printing alot of which…