Watching SPX 5000 again

The SPX is back testing that 5000 psychological level, which it briefly punched through but couldn't hold last week. For me, the real resistance is that 5030-5050 zone, which was a pretty significant consolidation area on the way down last month. If we get a convincing close above 5050, then I think a retest of the all-time highs is definitely on the cards; otherwise, we could easily see a retrace to 4900 or even 4850 if the momentum fades.