S+P 500 rebound takes it to the wire

Yesterday the S+P 500 garnered traction from the Nasdaq 100 and the tech stock cross over. The S+P lifted from a session low at 5,233.85 after reopening at 5,252.57. That opening was some way above the previous close at 5,199.50. The move higher later extended above 5,300 and peaked at 5,328.03. That high was just shy of the 5,230.64 high seen the day before and also just short of the noted Fibonacci correction level, at 5,329.52 it had nailed the day before. That may yet prove to be important and as you can see, such important technical levels do need to be respected, because the index could have lifted further, but it chose not to, because of that technical level. The index future has traded above that 5,330 level today though, but in terms of technical analysis on this index, we only look at the cash price not the implied price by the futures. The S+P 500 is currently priced to reopen later on at around 5,317