SPX: Friday`s move not exhausted?

It was a relatively mixed trading week for the US stocks. Still, they have managed to finish the week in a positive sentiment. The S&P 500 finished the week at 4.415, a 1.5% higher from Thursday's close at 4.345. This move was supported by almost all sectors, but mostly by tech, which gained 2.6%. Although equities did not like Fed Chair Powell's speech, where he noticed that further rate hikes might not be over in case that inflation “reaccelerates” . Still, as the 10Y Treasury benchmark remained flat on Powell's comments, and the equity market rebound on Friday.

As per current charts, there is some probability that equities might continue Friday`s trend, at least till the level of 4.450, where historical resistance moment holds. A move toward the higher grounds does not seem probable at this moment. On the opposite side, the support at 4.350 might also be tested in the week to come.