SP500: open the door to a challenge on the 3394 record high ?

The S&P 500 is grinding its way higher following its break above resistance
from the top of the February price gap at 3328/38 and whilst we remain
concerned the trend is getting overstretched this suggests we can see strength
extend further yet with resistance above 3356 seen next at 3373 and then and
critically the 3394 record high, where we would expect to see at least some
form of rejection, even if this proves only to be a brief pullback.

Support moves to 3329 initially, with 3318/17 needing to hold to keep the
immediate risk higher. A break can see a deeper setback to 3307, then what
we would look to be better support from its 13-day average, recent lows and
gap support at 3286/71.

Above the top of the February gap at 3328/38 should open the door to
a challenge on the 3394 record high.