S&P 500 ~ Pre-Market Warm-Up ~ 27 April 2012

Yesterday around noon the SPX broke the resistance at 1392-93 and then rallied another 10 handles and closed at 1400. Although the SPX didn't close above 1400 I clearly prefer the bullish count now (bearish count in this post). If we don't get a convincing break of 1385 I expect new highs soon.