S&P 500 yesterday jumped from the 0.618 Fibonacci retracement at 4,415 up to the 0.786 retracement at around 4,500.
There is still room up to the resistance at around 4,540 where a setback/correction should be expected. A close above could see the Index moving to 4,578 (1.618 projection of the October exhaustive down move) - 4,600.
However, the positive RSI with no divergence is supporting the view of higher Index levels. July peak at around 4,607 could be tested before we hit December
For S&P 500 to demolish this bullish picture a close of the Gap area i.e., a close below 4,415 is needed