Using a gann fan
and gann square
the market is indication a possible top mid 2014. Points I used are 1987 high and July 1994 open, since it was the lowest open in a consolidation period before the bull market that lead to the dot-com bubble. From these two points the 2000 and 2007 tops were identified. It looks like coming into 2014 price is entering an area where price could find trend changing resistance that unfolds into a huge correction possibly ending 2015/16 then off to a new bull market.
If price tops like 2000 or 2007 then price could meet resistance go sideways for six months and on the seventh month start a major correction. I believe the 1/4 or 3x1 could act as this resistance.
I believe the SPX
is a long until price gets up to resistance as identified on chart. When I see price get up there and price goes sideways for more than one month, it would be a big sign price is in a topping zone where it's time to get the hell out of longs.