S&P 500 Has Now Headed Up 8 Out of the Past 10 Days

The Hourly View for S&P 500

  • At the moment, SPX’s price is down -1.25 (-0.03%) from the hour prior.
  • This move is a reversal from the hour prior, which saw price move up.
  • Regarding the trend, note that the strongest trend exists 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 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.

S&P 500’s hourly price chart is shown below.

SPX

The Daily View for S&P 500

  • At the time of this writing, SPX’s price is up 14.59 (0.34%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as S&P 500 has now gone up 8 of the past 10 days.
  • Regarding the trend, note that the strongest trend exists on the 100 day timeframe.
  • 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.

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

SPX

Featured S&P 500 Commentary From Twitter

$TSLA +0.8% to $665 pre-mkt as 10yr ylds flat (1.35% +0.2bp) in front of June Fed OMC minutes today, Covid delta variant concerns. SPX +0.1%, NDX +0.4%. TSLA June China sales (30K exp vs 21K May) tonight or tomorrow should put to rest China FUD that TSLA brand strength slipping. https://t.co/htjcFUEkGc

garyblack00