Here is a daily chart of the cash S&P 500. I last commented on this market here.
I think the January 22 low around 1270 in cash and 1256 in the e-mini March futures will hold. Today the market has traded visibly aobve the January 9 low at 1378 and this means the market will probably get pretty close to the January 10 high at 1429 before a significant reaction sets it. The initial box for the current rally is 100 points wide and the 1/2 point of the second box is at 1420. This reinforces the significance of the 1420-30 resistance zone.
I think that we shall see this average trade above the 1600 level in the next 3 or 4 months. But before this happens I also expect to see at least one break of 100 or so S&P points. If that break starts from the 1420-30 zone then it would find support near the 1/2 point of the first box at 1320.