Bullish Continuation Expected for S&P 500 S&P 500 broke out of its down trendline and then saw Sign of Strength (SOS) , breaking above its resistance. With the bullish character , we expect the current short term demand>support situation to persist, trading towards 2850 resistance area (FIbo 61.80% area and previous support level. However, 1 sign of cautious is the volume . We like to see more volume as index trends higher. If volume remains at current rate, we may see trend reverse. Disclaimer applies.