Chart of the day

SPX is testing the critical resistance zone 4430-4480. A break above is required for a continuation higher and a test of the key uptrend continuation resistance 4550. A rejection here will lead to another consolidation swing lower to 4200.

I see this still as a pullback in the fourth wave before a continuation higher in the fifth wave. We need to see a clear confirmed break above 4550 in the coming days and weeks to support this count higher and a complete bullish extension. Invalidation will come only upon a confirmed break below 4150.

Long trades could be opened here with a stop loss below 4370. Short trades should be opened in the case of a confirmed break below 4330. These are a key resistance/support level so use small sizes and tight stops.