Yesterday Chis Kimble imagined the overhead resistance for the S&P 500 as an 800-Pound Gorilla (click here to see the critter). Today Chris's imagination has the market thousands of miles away climbing a Himalayan ice face.

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Chris explains: Yesterday's the 800 pounds of resistance chart called attention to the massive short-term resistance was at hand. Today's chart reflects more of a 30,000 foot view of resistance.

Resistance is resistance, and it looks like strong resistance for the 500 index with the two lines meeting at one price point.

Last week I suggested going long the Nasdaq 100, and we made some pocket change, harvestig the gains (see Nasdaq 100: Playing a Bounce).

Now if the 500 index does climb above this strong resistance, owning the breakout with a stop on support will be the play.