SPX Levels

The SPX broke the downward trendline today and is resting it's head at some horizontal resistance at the 1409 area.

Very bullish and could easily see the 1433 200MA level as the next target. First though, it will need to crack over the 50% fib level at 1416.

Can dispute the higher highs and higher lows -- go with the trend. Like the DOW, the SPX still has plenty of room to pull back to the 30MA while still keeping the uptrend intact. Any break of that trend may summons the bears again at which point there may be some choppiness.

SPX Daily Chart: