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Is the S+P 500 back for another look at 5,650 and beyond?

The rebound in the S+P 500 so far this week has seen it rise more than 200 points from the lows seen this time last week. As noted earlier, the index touched 5,600 yesterday evening and right now today it is priced to reopen above that level this afternoon. The prior price action back at the end of August saw the index stall multiple times around 5,650 after failing to reach a new all time high above 5,669. Well, as you can see, the index is likely to reopen not far from all those levels this afternoon. The question is clear; is demand strong enough ahead of the weekend to deliver a push back towards those highs ahead of the weekly close this evening? Even if that does not transpire, then of course the Fed rate decision next week will have an impact on the price action, one way or another. Just now the S+P 500 is priced to reopen around 5,610 

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