S&P 500 Daily Price Recap
S&P 500 closed the previous day up 1.45% ($39.84); this denotes the 2nd day in a row an increase has occurred. Out of the 8 instruments in the global equity indices asset class, S&P 500 ended up ranking 4th for the day in terms of price change relative to the previous day. Below is a daily price chart of S&P 500.
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 down. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed up. If you’re looking to trade the primary trend, this may be a good opportunity to sell rallies created by the counter trend. For another vantage point, consider that S&P 500’s price has gone up 5 of the previous 10 trading days.
Overheard on Twitter
Over on Twitter, here were the top tweets about S&P 500:
- From SJD10304:
Assuming no final hour shenanigans, today will record as the single greatest 12 day stretch of returns for the S&P 500 since 1950. Will move 03/23/2009’s 12 day gain of 20.57% into 2nd place. $spx
- From anandrathi12:
#spx s&p 500 looks like it is headed for 2830-2880 zone in few sessions. SL for this 2650.
- From StadlerStocks:
With an hour to go before the market closes, S&P 500 is officially OUT of bear market territory and back into a technical correction. $SPY $SPX