SPX false breakdown?

We dipped below the long term 38% Fibonacci retracement at the 2358 level and closed back above the 2400 level which is good news for the bulls. RSI is divergent which could set up for a bigger bounce into the end of the week. We are in no way “out of the woods” for the bulls, but we think that the bears should be careful after such a big move lower. Resistance is near the 2500 level now.