S&P 500 is Up for the 4th Day in a Row

News Releases Impacting S&P 500

  • Forecasted ADP Employment Change in United States: 450. The previous number: 475. (5.26% difference between the two.)

The Daily View for S&P 500

  • At the time of this writing, SPX’s price is up 56.08 (1.23%) 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.
  • Of note is that the 50 day changed directions on SPX; it is now pointing up. 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 CRYPTO BREAKS OUT! IMPORTANT READ! you may find interesting:

Hey! Hope you guys are having a great day, thank you for tuning in and let’s dive into today’s quick read! Note: Attached is a link to one of my recent related ideas which basically should explain the scenario’s in more detail for those curious and looking for a more detailed read on things technically as well as fundamentally. Technical: On a technical note, we’ve exited the Ascending Triangle which bitcoin and most crypto’s have been stuck in since February. We’ve seen a massive impulse move and huge inflows into crypto this week so far. However. Remember what happened last time we had an impulse move like this, we got met with a strong pullback before we went back up for good. So don’t expect us to be Lambo rich just yet. Most likely we’ll see a pullback down before a solid move back up to pull us above the 50k range. As I’ve drawn out on the chart, you can see Bitcoin has been in this ‘hallway’ to call it. We’re basically at the top of that hallway right now and likely we’ll touch back down towards the 40-44k range before we get one final push we need up. Not to mention Terra has been responsible for a lot of Bitcoin’s rise this week due to it’s huge purchase for it’s reserves so that is another reason for this likely impulse movement. That alongside people …

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