SPX holds at resistance line

After barely finishing below two support lines, the SPX retested the resistance (that was previously support) and crossed back above it. I would not consider this a decisive break in trend, and in fact I think we have reason to believe the bulls are still in control. The RSI also dipped below its support line but has now crossed it again. Expect the SPX to hit the top resistance line again. For those looking for a short term trade, I would recommend taking a short term call position when the SPX Hits the 3480 range, be prepared to sell if it drops back to the low of two hours ago (3400), and take profits at the high of 5 days ago (3472). This is a very short term trade, but there is a good chance of it carrying through.