Green line -support trend line

SPX is trading around 4,144 after testing once more the support trend line shown in green in the chart that follows. Price remains in a bullish trend as it continues making higher highs and higher lows. Support is at 4,100 and as long as we trade above it, bulls remain in control of the near term trend. A break below this level will be a sign of weakness and as we explained in our previous post, SPX will most probably move towards next short-term support level of 3.960-4,000 if we fail to hold above 4,100.