S&P 500 Index - Short -term weakness becoming evident

by Tim Straiton
Tuesday 20th July 2021

Technical Review of the S&P 500 INDEX (.SPX)

as of 7/19/2021
based on daily data
Open 4,296.40
High 4,296.40
Low 4,233.13
Close 4,258.49
200 period moving average: 3,895.01
14 day relative strength index: 43.72
The bullish trend of the MACD is losing momentum.

The S&P 500 INDEX is currently trading at 4,258.49 which is 8.54% above its 200 day moving average. This instrument is trading below its daily pivot point of 4,341.59, which is a short term bearish factor.

Looking further out, our proprietary medium term trend indicator is bullish. The Directional Market Index is negative. Weak trend action has been detected in this market, therefore it is unlikely that opening a position will result in significant returns.


Our opinions are not a recommendation to buy or sell a security. Your decision whether or not to open a
transaction should be based on your own due diligence and not on any representation we make to you.


Charts courtesy of


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