The stock market, as measured by the S&P 500 index SPX, has broken out strongly to the upside, trading at new intraday and closing highs. The breakout came on Jan. 19, over the 4,800 level. That now represents support, and that support extends down to 4,680. There is no classical resistance, because the S&P 500 is trading at new all-time highs, but it is now encountering its +4σ “modified Bollinger Band,” which might act as a restraint of sorts.The sideways movement between 4,680 and 4,800 that took place b ...