Chart of the Day - Tuesday, June 21st, 2022
June 21, 2022
Today’s Chart of the Day was shared by Sunrise Trader (@SunriseTrader). The chart shows five moving averages of the S&P 500 over the past nine months - the 10-day EMA (black), the 21-day SMA (green), the 50-day SMA (blue), the 100-day SMA (grey), and the 200-day SMA (red). The purpose of removing price from this chart is to emphasize the current trends. The S&P 500 remains stuck under all five of these moving averages despite rebounding 2.67% over the past two sessions. More importantly, all five moving averages are sloping lower. The strength over the past two days has been encouraging, however, both short-term and long-term trends remain lower.