As we predicted yesterday, there was a gap up at the opening today, with $SPX breaking out of the prior resistance of 1.530 observed on February 19 (now becomes support).

Furthermore, as we stated yesterday, on the hourly, $SPX reached the predicted 1,538 level (in fact reached the bit higher 1,543 level) and already began a small pullback towards the new support level of 1,527 - 1,530.

It is expected that subsequently $SPX will likely reach new highs at 1,565.

A close below the recent 1,512 on the $SPX  or  14,030 on the DOW will invalidate our scenario.

Next target: Test support