SP500 has now approached a resistance cluster (Chart 1). 200-day moving average, the downward trend line from the late November high, and the bottom of Dec-Nov price channel all pose as potential resistance. Furthermore, the impressive rally since the February low could be at the end of a potential zigzag (Chart 2) .
Meanwhile, the unfilled gap around 2040 is comfortably above the resistance cluster. Will it get filled this month?