The Hourly View for SPX
Last Updated November 26, 2020, 01:05 GMT
At the time of this writing, SPX’s price is up $2 (0.05%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as SPX has now gone up 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly 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.
S&P 500 Daily Price Recap
The back and forth price flow continues for S&P 500, which started today off at 3629.65 US dollars, down 0.16% (5.76) from the previous day. Relative to other instruments in the equity indices asset class, S&P 500 ranked 9th since the previous day in terms of percentage price change. Here is a daily price chart of S&P 500.
S&P 500 Technical Analysis
Volatility for S&P 500 has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 7 out of the past 14 days.
Overheard on Twitter
For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to S&P 500 for the past day were:
- From Pullman95736095:
@charliebilello @ycharts $11 trillion $SPX index-tracking funds will also have to sell some $51 billion worth of shares already in the S&P 500 and use the cash to buy Tesla shares. with its $473 billion market cap, $tsla will instantly be larger than 95% of the companies already in the index.😱
- From FinancialMovers:
Of the past 20 years the S&P 500 went red only 4 times during the week of Thanksgiving. If you want to trade the statistics then it’s a good idea to get long. $SPX $SPY $NDX $QQQ $IVV $AAPL $AMZN $NFLX $CCL $DIS $RCL $TSLA $NIO
- From SJD10304:
1.5 trading days left in November and we’re on pace to close the month higher by double digits and at a new ATH. We’ve seen that exactly 1 other time over the last 70 years for the S&P 500:November 1980.Of course. $spx (Do not want)
In terms of news links for S&P 500 here’s one to try:
Image: Real Investment Advice Cumulative Advance-Decline Line for the S&P 500 Index The cumulative advance-decline line for the S&P 500 Index could suggest further upside for stocks….S&P 500 Index The Truck Tonnage Index decreased 6.3% in October.