So, we had quite a pitched battle today with Bears holding the edge after a spirited rally.
ST down, IT flat, on the daily SPX at the close.
NEW HIGHS are possible if the SPX closes above the new swing high (today's SPX high)
Today's low also marked an important support level in that zone just above the 200ma.
Bears had several attempts to take the market down in recent weeks but they failed.
With today's close more than 1% above the lows, the bulls can try to rally above today's high and move it closer to SPX 2900, and then aim for new highs.
HOWEVER, this will be extremely difficult UNLESS there is a strong catalyst that motivates buyers to come in at this stage of the rally.
The lines in the sand are drawn after today's SPX trading: high and low of today's LONG candle