S&P Sees Strong Support Near 4100

while several short-term indicators are pointing toward further weakness, the fact that S&P continues basing sideway using the neckline of the 2-month W pattern, around 4100, as support as it works off excessive optimism rather than moving lower indicating an internal strength.  Support is strong near 4100. This level is too big and too important. It won’t go down without a fight.  So it should not be surprised to see further consolidations in the coming days