(Last Updated September 22, 2020)
Hello! This is the news page for S&P 500. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
As for trends on SPX, we’re seeing a downtrend on shorter timeframes — but an uptrend on the 90 day timeframe. The countertrend on the shorter timeframe may provide an opportunity to buy for those interested in playing the longer term trend.
Nuances in the trend on SPX can be understood by observing the behavior of its moving averages. Of the 20, 50, 100, and 200 day averages — three of them (all but the 20) — are bullish, implying a upward trend, aside from a decline about 3 weeks prior.
Below is a chart showing SPX’s price with its moving averages.
At the time of this writing, SPX’s price is down $-38.41 (-1.16%) from the week prior. SPX has seen its price go down 4 out of the past 5 weeks, thus creating some compelling opportunities for bears. As for the trend on the weekly timeframe, we see the clearest trend on the 5 week timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on SPX. Given that we see an uptrend on the 5 weekly 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 weekly candle timeframe, so the meaning of the candles may require further exploration. Looking further out, the moving averages on the weekly timeframe suggest a bearishness in price, as the 20 and 50 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. SPX’s weekly price action over the past 52 weeks can be seen via the chart below.
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.
Relative to other instruments in the equity indices asset class, s&p 500 ranked 11th since the day prior in terms of percentage price change.
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 previous day.
Out of the 14 instruments in the equity indices asset class, s&p 500 ended up ranking 12th for the day in terms of price change relative to the previous day.
Or to view things another way, note that out of the past 30 days s&p 500’s price has gone up 21 them.
Relative to other instruments in the equity indices asset class, s&p 500 ranked 3rd since yesterday in terms of percentage price change.
Relative to other instruments in the equity indices asset class, s&p 500 ranked 9th since the previous day in terms of percentage price change.
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 yesterday.
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