We are still tracking this ending diagonal on the SPX. There is a contracting diagonal within a larger expanding one. Both could potentially be longer term bearish structures.
I still expect one more pop to test the current highs at 1196, we may even get to 1203.
Breaking below 1173 and 1159 could be bearish though, so any downside move would have to hold over those.
The key throughout the next few days will be the Dow. If we get an up move, we have to see how the Dow reacts to its April highs. It nearly broke over it yesterday.
Any up move in the markets must remain below 11258.01 on the Dow for this bearish structure to hold, if not we could possibly a run towards 11,500.
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