It has been a slow, grinding process for the S&P 500 Index (SPX) since the September bottom, but finally it has reached the top end of a 4-month trading range. The upcoming test of the 2,800 level in the SPX carries as much significance psychologically as it does technically, for a successful breakout above this level would convince neutral investors to buy stocks, while reinforcing the bulls’ optimism. It would also likely serve as the catalyst for another round of short-covering on the part of the bears. In today’s report, we’ll discuss this upcoming trading