S&P 500 future did exactly what we expected it to do during last week. It was weaker, but moving aside and trying to break the 1370 resistance on Monday, Tuesday and Thursday without success. Its weekly range was 1327.50 - 1369.70 that compared to our levels provided last Monday (click here) it makes our analysis almost 100% reliable. Two important technical points for the coming week. The resistance at 1370 has shown to be a strong barrier and a potential break of it will push the S&P500 towards 1400 again. This is a likely scenario because on Friday just minutes before closure the S&P 500 gained more than 15 points closing above the blue line. On the other side, if we look at the RSI, it is clear that the green line is acting as a good resistance in area 50. It can be interpreted as a sign of uncertainty and lateral movement. A further movement below the blue trend line will be interpreted as a short, otherwise it will try to move higher again.