My last tweet of the week on the theartofchart.net member twitter feed on Friday was a comment that the close was modestly bearish, but with a risk of a breakaway gap up at the RTH open today, and here it is.
Today is all about a test of strong resistance at the retest of broken rising channel support and the daily middle band at 2089. This is a daily closing basis test, so we could see a break above intraday, but any intraday move over 2095-2100 SPX would suggest a likely break up.
If SPX fails here then fills the opening gap then we should see a retracement low under 2050. If SPX breaks resistance then the current swing high at 2120 should be retested, and may well break into a test of the all time high at 2134. SPX daily chart: