Last week Chris Kimble used Superman's Blink of an Eye speed to speculate on the momentum of the S&P 500 rally. Today he tells us about the 800-pound gorilla overhead.

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Chris explains: Last week's "blink of an eye" chart suggested that the S&P 500 index could fill an upside gap in a quick rally. The index made over 2.5% in two days and filled the gap.

Now a "Crossroads" of Resistance" looks to be in place, and the index finds itself with 1% of that target.

In my opinion this resistance is strong and will be a major test in a series of lower highs over the past several weeks.

If the index finds a way to break this resistance that would be positive indeed!