Even the Fed, Iran and interest-rate worries can’t keep this stock market down

The S&P 500 index

SPX has weathered negative news including the Middle East conflict, a poor U.S. Treasury bond auction, and the Federal Reserve not lowering rates. Stocks sold off on these events — but only modestly. Moreover, there has not been any particular disruption in the flow of oil.

The chart of SPX remains bullish. It did not even trade down to last week’s lows at 5,920, which is a support area. There are several more support areas, all the way down to 5,700. They are marked with blue horizontal lines on the accompanying SPX chart. Meanwhile, there is resistance at 6,060 (recent high) and then at 6,150 (the all-time high).