In February, the S&P500 has revived its uptrend since a correction in January. (S&P500 1H chart: click to enlarge)False break:Today, the market poked through the Feb. highs around 1843, but immediately retreated as if to say, "not so fast, let's wait for the FOMC minutes."Support:To the downside, the market was supported by the overnight low around 1833. You can also say it remained supported by this week's lows. Reinforcing these lows was a rising trendline that supported Feb. price action.FOMC Minutes Reaction:Okay it is 10 minutes after the FOMC minutes, and the hourly candle is bullish so far, but it is subdued, and we can't really make much of the immediate reaction. The larger picture remains bullish, and the "false break-out" does not seem to be an exhaustion so far. The 2014 high is around 1852, and the market seems poised to challenge this resistance again.Outlook:A failure to push above 1852, and a return below 1830 might revive the idea the market is consolidating. For me, I am bullish, and would only sell intra-session. The more resistance we see aroudn 1850, the more significant a break will be and the better case it will be to add long positions, betting higher highs through 2014. Meanwhile, the USD's immediate reaction to the FOMC Minutes has been bullish.