$SPX couldn't break out on the upside, so then it decided to test the downside, breaking down below support at 6800 for two days. But that move had no follow-through either. Thus, $SPX remains in a trading range, and the frustration with this market continues to grow.
The indicators lean slightly to the bullish side, but the real arbiter of price is, of course, $SPX and that remains in a neutral state.
It seems that everything is quite bullish, and we are merely awaiting confirmation from the $SPX chart. That is, we need to see $SPX trade solidly at a new all-time high in order to be in agreement with what is a very bullish set of indicators otherwise.
