Can the bulls keep control?  Or will we give back these gains once again?  Headlines will continue to drive this market, but we still need to be cognizant of the technical levels.  If you subscribe to the theory that old resistance becomes new support than the 1373.75 – 1376 area is a key level for this market to hold.  Here is a look at the critical levels:

E-Mini  Significance Level Reason
1407.75 *** April 3 high
1402.50 ** April 4 high
1398.25 ***** May 2 high
1394.00 *
1391.00 **
1386.00 **** Friday high
1382.50 CLOSE
1376.00 **
1373.75 ***
1368.25 *
1362.50 *
1360.50 *** Friday intraday low
1358.75 ** Thursday high
1352.75 **** Fri Globex low-1354.75 Thurs close

For support/resistance levels on the S&P’s top components click here.