S&P 500 Stalling at ATH

FX:SPX500   S&P 500 index of US listed shares
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How much longer can the S&P 500             continue to sluggishly push uphill?
The volume must be hiding with the enthusiasm, nowhere to be found.. And with the Macro data coming in worse every single week since the end of QE             can you blame people for being cautious?
The USD is finally continuing its unstoppable upward march after a two month sideways consolidation.
A rising dollar coupled with the threat of rate hikes from the Fed could be all it takes to send this Jenga-market tumbling...