yw Leones. No. Contract rollover in the spoos will distort the trading. I developed some other indicators which are not showing kindness to the longs. You are on to something about May 2015. However, in the mind of a professional trader and managing director, I would be short and reducing risk now. Hence the churn up here.
The blue banding represents non-linear channels. It market the bottom as it intersected with another from a 30+ year cycle. The blue one is of shorter cyclical duration. Some you can't see are representing the containment of prices on the DJ30. With prices from approx. 1905, I can run these. PM me if you have questions.
Possibly the worst thing that can happen is for price appreciation to continue above the recent highs. For this to happen, the Street would have to slowly nudge the SP500 up against the SPY 213 -220 area in order to "pop" the market. If it held, the red and green bands would flip signifying a new bull trend that could last into the autumn or year end. The best would be for the market to come down orderly and the move back up with the green below red. For example, CL WTI Crude flipped the bands from bullish blue above orange to bearish blue below orange in 2012. The unwind took that long. I can show you if you wish. Always good chatting with you across time zones!