S&P 500 (SPX) Heads Up For the 3rd Day In A Row; in an Uptrend Over Past 14 Days

The Hourly View for SPX

Last Updated February 16, 2021, 23:18 GMT

Currently, S&P 500’s price is up 0.25 (0.01%) from the hour prior. The hourly chart shows that S&P 500 has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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

S&P 500 closed the day prior up 0.53% (20.75); this denotes the 3rd 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 10th 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

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 10 out of the past 14 days.