The S&P500 index finally managed to break out from the previous all-time highs near 3389.
Price action comfortably broke past the previous highs set.
The equity index has also erased all the losses from earlier this year. The bullish continuation could see the index aiming higher.
This would mean that any dips in the index will remain attractive for buyers.
In the near term, the 3389 level could be tested for support. This makes this previously held resistance level as a strong area for support.
Attracting new buyers, the support level could see price action pushing higher. The trend line continues to remain in play as a possible break down off this trend line could signal a pause to the current bullish uptrend.