Even with Thursday's and Friday's lull, the shortened-trading week was a bullishly productive one. The S&P 500 (SPX) (SPY) ended the week at 1917.78, up 2.8%. On the other hand, most of the major indices are now squarely in the middle of some pretty significant support and resistance levels - they need to make a stronger commitment to one direction or the other before becoming trade-worthy. The bias, though, is bullish in many ways.
We'll dissect the market's upside and downside in a moment. [...]