The S&P 500 rallied after mixed US nonfarm payrolls tempered reflation fears.
The short-lived correction saw solid bids at 4165, the base of a previous rally.
Bullish momentum above the immediate resistance of 4125 is an indication that the short side has rushed to cover their bets. 4245 is a critical resistance and its breach could propel the index to a new record high.
The RSI has ventured into the overbought area. A temporary pullback is likely to look for support above 4185.
