S&P 500 (SPX) Up 1.44%; in an Uptrend Over Past 90 Days

The Hourly View for SPX

Last Updated April 6, 2021, 03:018 GMT

At the time of this writing, S&P 500’s price is down -0.52 (-0.01%) from the hour prior. S&P 500 has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour 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 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. With that said, traders should also note the downtrend on the 5 hourly candle timeframe, so the meaning of the candles may require further exploration. 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 is up 1.44% (58.04) since the previous day, marking the 3rd straight day it has gone up. Relative to other instruments in the equity indices asset class, S&P 500 ranked 3rd since the previous day in terms of percentage price change. Here is a daily price chart of S&P 500.

SPX

S&P 500 Technical Analysis

The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 7 out of the past 14 days.