BULLS staged a good recovery to finish near the highs today, still above the daily SPX 50 and 20ma, and hanging on to ST & IT long.
The 50ma (yellow) is the major support and that fat zone from 2660 to 2700 is the massive resistance ahead., with the 200ma above that at 2740.
Earnings are now the major factor. Unless the FED sounds unexpectedly hawkish, they are not a factor now.
China Trade negotiations are not expected to progress too much but mere talk is neutral for the market.
Of course, any deal China/US deal is good news that can send the market up by at least 5%
We have been in this SPX 70 point range for 8 tradings days..... something has to give, soon.