The S&P 500 rose back to its previous high on strong corporate earnings.
The index has met strong bids around 4250, the top range of the late June consolidation. The subsequent surge gave no room for sellers to get a foothold.
An overbought RSI may prompt intraday traders to take profit at the peak (4392). 4380 has been established as fresh support where buyers could be lurking around. Further below, 4350 may provide another layer of support.
On the upside, a bullish breakout would extend the rally towards 4440.
