The S&P 500 Index ($SPX) has experienced a notable recovery, rallying approximately 9% in a single day. After reaching a low of down 21% since February 20, the index has filled multiple gaps, including one in the $5,300 range, which was confirmed as filled. Analysts suggest that the next target is a gap fill in the $5,500 range, indicating a potential further increase of about 3%. Additionally, there is speculation about a gap fill at $5,670, contingent on sustained bullish momentum. The market's stabilization around the 4,800-5,000 range is viewed as crucial for maintaining this upward trajectory.