This is a one hour chart of SPX. The February line is acting as mild resistance. I would say we are moving into a range bound market, with lots of small triangles along the way. Range is 2150 to 2120. All the markets appear to be highly synchronized.
There is a lot of up and down action. Bears > Bull, IMHO. But it's a tough fight out there. We are at 52 week highs though, so if you believe in reversion to mean, we probably go down the next few weeks. How far, no one knows.
Long-term trend is still up to sideways. Demand zone is 1800-1900. Supply Zone is 2120-2040. Buys are still buying. Bulls are still winning. Oct-Dec 2015 was a huge bear trap, in terms of volume. Jan-June 2016 was bulls unwinding. We are close to the bears giving up for the rest of the year.