S&P 500 (SPX) Makes Big Move Relative to Two Week Trend, 2 Day Up Streak Snapped; Eyes 20 Day Average

The Hourly View for SPX

Last Updated January 5, 2021, 02:018 GMT

At the moment, S&P 500’s price is up 2.75 (0.07%) from the hour prior. This is the 2nd consecutive hour S&P 500 has seen its price head up. Regarding the trend, note that the strongest trend exists on the 20 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

3700.65 was the closing price of the day for S&P 500, resulting in today being one in which price moved down 1.48% ($55.42) from the day prior. Out of the 14 instruments in the equity indices asset class, S&P 500 ended up ranking 13th for the day in terms of price change relative to the day prior. Here is a daily price chart of S&P 500.

SPX

S&P 500 Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 15 out of the past 30 days.