S&P 500 Snaps a 4 Day Up Streak

News Releases Impacting S&P 500

  • Forecasted New Home Sales in United States: 0.81.. The previous number: 0.801.. (1.12% difference between the two.)

The Daily View for S&P 500

  • At the moment, SPX’s price is down -1.94 (-0.04%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as S&P 500 has now gone up 4 of the past 5 days.
  • Regarding the trend, note that the strongest trend exists on the 50 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 an uptrend on the 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 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.

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/CAD:FUNDAMENTAL NEWS+TECHNICAL ANALYSIS |U MUST READ|LONG đź”” you may find interesting:

USD/CAD struggles to defend 1.2600 as Ukraine-Russia crisis favors oil buyersUSD/CAD remains pressured around two-week low after declining for the last four days.Geopolitical tussles between Russia and Ukraine recently escalated over Mariupol.WTI crude oil consolidates two-week losses as news from Saudi oil plants joins Ukraine-Russia headlines.Qualitative catalysts will be the key to watch, Fed’s Powell, Biden’s NATO meet will be crucial events.USD/CAD sellers attack 1.2600 during Monday’s Asian session, after posting the biggest weekly loss since late December 2021. In doing so, the Loonie (Canadian dollar) cheers firmer prices of Canada’s key export item, WTI crude oil, amid supply crunch fears due to the latest geopolitical tensions.Among them, escalated geopolitical tensions in Mariupol of Ukraine and the recent attack on Saudi Arabian oil…

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