The SPX remained well above the quarterly support at the October 31 low and has now reconfirmed the quarterly uptrend this week with the close above the September high. The SPX also broke above and so far successfully tested the monthly test/fail resistance zone and should continue higher as long as weekly support continues to hold in the coming days.

While the SPX is above the MTFZ~R and a continuation of the uptrend is expected, the QRZ at 3594/3652 and the 5YR at 3663 could stall this impulsive move. If the SPX breaks above the QRZ the next resistance confluence is at YR @ 3778, QR @ 3854 and MR @ 3862. Support is at the MTFZ~R @ 3509/3547 and the MP @ 3351. Good Luck & Trade Safe.

SPX ~ Pivot Zones