Wall of Resistance

"We defend this city, not to protect these stones, but the people living within these walls."
--Balian of Ibelin (Kingdom of Heaven)

Many traders eyeing SPX 2820. Over the past few months, several rally attempts have failed at this level. As such, it has come to represent a significant wall of resistance that, if breached, could spark another leg higher and a run at last year's all time highs.

Of course, the opposite is possible is well. Another failure at this level could cause traders to shed hope in favor of fear, and send the bulls into full fledged retreat.