S&P 500 dancing on a fine line

Would a close above the 38.2% retracement in the S&P 500 be enough?

In my mind that would be the hollowest of victories. A close back above the 100-day moving average at 2030 would be a bit more convincing.

I can't remember a period like the last 4 months where there was so much action on Fridays and even late on Fridays.