Price channel captures the overall trend of the S&P 500 across time, with three parallel lines outlining the upper, middle, and lower bounds of the price action. The channel effectively contains most of the historical price movement within its boundaries, showing long-term upward growth with corrections.
Significant Historical Points:
1929: Marked near the top of the channel, this represents the peak before the Great Depression.
1932: A trough near the bottom of the channel, showing the market low during the Great Depression.
1942: Another market low during World War II.
2000: Represents the peak of the dot-com bubble.
2009: The low following the 2008 financial crisis.
2020: The COVID-19 pandemic sell-off.
2022-2024: The most recent data shows the index near the upper boundary of the channel in 2024, indicating a period of significant market strength or potential overextension.
The chart is logarithmic, with the price levels increasing exponentially from as low as $1.65 in the early 1900s to around $5,742 in 2024. The price axis reflects the long-term growth of the index.
Significant Historical Points:
1929: Marked near the top of the channel, this represents the peak before the Great Depression.
1932: A trough near the bottom of the channel, showing the market low during the Great Depression.
1942: Another market low during World War II.
2000: Represents the peak of the dot-com bubble.
2009: The low following the 2008 financial crisis.
2020: The COVID-19 pandemic sell-off.
2022-2024: The most recent data shows the index near the upper boundary of the channel in 2024, indicating a period of significant market strength or potential overextension.
The chart is logarithmic, with the price levels increasing exponentially from as low as $1.65 in the early 1900s to around $5,742 in 2024. The price axis reflects the long-term growth of the index.
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