Why is the S&P price holding/bouncing at the current level?

Because it is sitting on top of the trading channel that it defined since the turn of the 20th century. The only time that the S&P broke above this channel was the dot com bubble. That is a pretty ominous sign if you ask me. The good news is that the S&P is still inside the blue channel that started in 2009.

1D
스냅샷

4h
스냅샷

2h
스냅샷



Chart PatternsDIADJIIVVNASDAQ 100 CFDQQQSPX (S&P 500 Index)SPDR S&P 500 ETF (SPY) Trend Analysis