S&P 500 (SPX) Moves Up For the 4th Day In A Row; in an Uptrend Over Past 90 Days

The Hourly View for SPX

Last Updated June 29, 2021, 02:018 GMT

Currently, S&P 500’s price is down -1.5 (-0.04%) from the hour prior. S&P 500 has seen its price go down 5 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, with price now being below it. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

S&P 500 Daily Price Recap

S&P 500 closed the day prior up 0.09% (3.8); this denotes the 4th day in a row an increase has occurred. Out of the 14 instruments in the equity indices asset class, S&P 500 ended up ranking 2nd for the day in terms of price change relative to the day prior. The daily price chart of S&P 500 below illustrates.

SPX

S&P 500 Technical Analysis

The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For another vantage point, consider that S&P 500’s price has gone up 6 of the previous 10 trading days.