The S&P 500 Index ($SPX) is experiencing significant bullish momentum, with traders eyeing a potential breakthrough to new all-time highs. The index is currently hovering around key levels, with 5562 being a critical near-term resistance point. Market participants are optimistic that holding above 555 could lead to a rapid ascent towards 5600. The bullish sentiment is further supported by intraday price actions and technical levels, with 560.47+ being a crucial swing trade price for $SPY into next week. Analysts are closely watching these levels, particularly 555.41 and 560.68, anticipating a strong finish to the week and potential new highs before the upcoming FOMC meeting. Fridays are noted for their bullish trends, adding to the optimism.