S+P 500 lifts close to technical levels

Yesterday and a few days prior to that an important level was noted here on the S+P 500 index. That was actually at 5,393. To refresh the memory of the reader this price area represents a Fibonacci correction level (50%) of the fall from the record high set in July, at 5,669, to the most recent low at 5,119. That is at 5,393.23. Also, around there is a price gap created, when the market collapsed last week. So, now the index has just reopened and it is testing these levels in early trading. As to whether or not they provide resistance to further upside beyond 5,394 remains open. Perhaps we shall see as the session develops. The index is currently trading at 5,388