The S&P500 index $SPX was in a key breakout during the 4/17 session, as price broke above a consolidation resistance around $2678. But as price breaks above $2700, the market will be looking at another key resistance around $2745. SPX Daily Chart(click to enlarge)Breakout:- The daily chart shows that price was consolidating under $2678 since late March.- With price under $2678, there was a strong prospect of the current consolidation turning into more bearish correction scenario.- However, a break above this resistance supports the triangle scenario shown in the daily chart. - Under this scenario, if price gets to $2745, SPX will be facing the triangle resistance as well as levels where we have seen some resistance in February and March. - Furthermore, if the consolidation still has some bearish momentum left, the RSI should hold under 60. - A break above $2760, with the RSI pushing above 60 could be clues that SPX is ready for a rally back towards the high on the year just under $2880. - If price pulls back but holds above $2670, that would also add to the prospect of this bullish scenario.