A quick chart check of the S&P: 4-Month chart.The markets are higher here on Wednesday a day after we reclaimed the 260 level on the SPY. The technicals are still somewhat damaged as the SPY is below both the 50-day and 200-day moving averages. The technicals have really been improving though. We are now just under the 50-day MA which may act as resistance until we break back above it. The MACD is positive. The Stochastics are at overbought. The Money Flow is really good after a huge "V" bottom formation was completed. The Vix remains a bit high still, but has been slowly drifting lower. This is a good sign for the bulls.Next test is to see if the 260 level holds and becomes support on any pullback attempts. We are now pinned between the 260 level and the 50-day MA. So any opinions on which way we break? Back under 260 vs back over the 50-day moving average?