I think the bulls will be able to get a double bottom with Thursdays low, and then push forward to 2500. I would expect a pullback to the bottom of the bull channel at this stage. 2500 is a big round number and a target for both the bulls to take profit and the bears to start shorting.
some profit taking at 2480, but not enough bear strength to create a shorting opportunity, only bulls buying at a better price. the s&p is heading up to the 2500 magnet. here it will find profit taking and potential new short sellers. if the buying is strong around these levels, the s&p can go even further and the best the bears will get is a trading range. the market would need to stall a little before an effective reversal attempt. I would expect the market to go sideways or down slightly around the 2500 level.